The Hackensack, New Jersey-based company earned $4.8 million, or 14 cents per share, in line with consensus estimates according to First Call. IDT earned $1.9 million, or 8 cents, in the year-ago period. Earnings before interest, taxes, depreciation and amortization were $13.5 million, compared to $4.1 million a year ago.
Revenue for the first quarter rose 143 percent to $133.3 million, from $54.7 million a year ago.
Additionally, the company said that it is exploring various strategic options, including a spin-off or subsidiary initial public offering, of its Internet communications services group.
In a statement, IDT said it "intends to organize and restructure its businesses to provide for increased shareholder value."
The company claims it is in discussions with various advisors and strategic partners, including a "major media conglomerate with extensive holdings in leading Internet companies," to provide investment.
Revenue from IDT's Net2Phone rose 36 percent quarter-to-quarter to $5.3 million, or 212 percent from the year-ago quarter. The company said more than 1 million calls have been placed over its Net2Phone technology, which enables users to place calls to any telephone in the world via the Internet.
Shares rose 5 percent to close at 20.375 before the earnings report was released after the bell. IDT stock has risen as high as 40.25 and as low as 11.875 in the past 52 weeks.
Reuters contributed to this report.