UPDATE 1-Chipmaker Skyworks forecasts profit above estimates
* Expects 2nd-qtr adjusted profit/shr $0.59 vs est $0.57
* Expects 2nd-qtr revenue $470 mln vs est $460.5 mln
* 1st-qtr adj profit/shr $0.67 vs est $0.66
* 1st-qtr rev $505.2 mln vs est $500 mln
* Shares up 9 pct in extended trading
Jan 16 (Reuters) - Chipmaker Skyworks Solutions Inc reported a 44 percent jump in quarterly profit, helped by increased demand for its analog chips used to connect machines and devices to the Internet, and forecast second-quarter profit above estimates.
Skyworks shares rose 9 percent in extended trading.
The company, whose radio frequency chips connect smartphones and tablets to a network, said it expects second-quarter adjusted earnings of 59 cents per share on revenue of $470 million.
Analysts on average were expecting earnings of 57 cents per share on revenue of $460.5 million, according to Thomson Reuters I/B/E/S.
Machine-to-machine connectivity, more commonly known as the "Internet of Things," is a network where a natural or man-made object has an IP address and can transfer data over a network.
The technology helps in detecting oil drill sites, controlling traffic, monitoring cars and allowing medical personnel to keep track of health of patients.
Skyworks counts Apple Inc's largest contract manufacturer Foxconn Technology Group, Ericsson and Cisco Systems Inc among its customers.
The company's net income rose to $94.5 million, or 49 cents per share, in the first quarter ended Dec. 27 from $66.5 million, or 34 cents per share, a year earlier.
Excluding some items, Skyworks earned 67 cents per share.
Revenue rose 11 percent to $505.2 million for the company, which competes with Peregrine Semiconductor Co, Avago Technologies Ltd and Analog Devices Inc.
Analysts had expected earnings of 66 cents per share on revenue of $500 million.
The company's adjusted gross margin expanded to 44.5 percent from 43 percent.
Shares of Skywork closed at $28.62 on the Nasdaq.