China Finance Online Co. (Nasdaq:JRJC) shares are up some 7% after reporting late Thursday that its adjusted first-quarter profit rose to $3.5 million, or $0.15 per share, versus $0.8 million, or $0.04 per share, a year earlier. The results met Wall Street’s expectation.

Quarterly revenue more than doubled to $11.1 million from $4 million during the same period of 2007. Despite the substantial revenue jump, Wall Street analysts were looking for $12.5 million in revenue.

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