NEW YORK (TheStreet) -- MagicJack VocalTec (CALL) - Get Report was gaining 23% to $21.56 Thursday after beating analysts' expectations for earnings and revenue in the fourth quarter.

For the fourth quarter magicJack posted earnings of 69 cents a share, beating analysts' estimates of 41 cents a share by 28 cents. Revenue dropped 7.8% from the year-ago quarter to $38.2 million. Analysts surveyed by Thomson Reuters expected revenue of $35.9 million for the quarter.

For full-year 2014 the company expects revenue of between $158 million and $163 million, well above analysts' estimates of $147.2 million revenue for the year.

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