UPDATE 1-Tyson Foods profit tops estimates, shares rise 5 pct

(Adds details on beef and prepared foods segments, share movement, analyst estimates)

Feb 8 (Reuters) - Tyson Foods Inc, the No. 1 U.S. meat processor, reported better-than-expected quarterly revenue and profit on Thursday, helped by an increase in sales of its beef products and prepared foods.

Shares of the maker of Ball Park hotdogs and Jimmy Dean sausages rose 5 percent to $77.14 in premarket trading.

Sales in the beef business, the company's biggest, rose 10.1 percent in the first quarter, while its prepared foods segment saw an increase in sales of 21 percent.

Net income attributable to the company nearly tripled to $1.63 billion, or $4.40 per share, in the quarter ended Dec. 30 due to a $790 million benefit related to the overhaul of U.S. tax laws late last year.

Excluding items, the company earned $1.81 per share, much above the average analyst estimate of $1.50, according to Thomson Reuters I/B/E/S.

The Springdale, Arkansas-based company's net revenue rose 11.4 percent to $10.23 billion. Analysts on average had expected $9.87 billion. (Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)