Yes.
That's due to hyper-threading.
The i3 has 2 cores, but HT gives it another 2 virtual ones.
This is also why i7's are so wanted for tasks that need heavy-lifting (video/image editing), because
the i7 has HT as well, but has 4 physical cores. Thus thanks to HT it gets another 4.
In the end that results in more cores and more horsepower.