Reuters: Hot Stocks: UPDATE 1-Skyworks profit beats estimates; shares jump

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UPDATE 1-Skyworks profit beats estimates; shares jump Jan 30th 2013, 22:21 Wed Jan 30, 2013 5:21pm EST Jan 30 (Reuters) - Skyworks Solutions Inc, a supplier to Apple Inc, reported better-than-expected quarterly results on higher demand for its chips used to connect cellphones to networks. The company, whose shares were up 12 percent in extended trading, said it expects second-quarter revenue to be up 15 percent from the year-earlier quarter. Skyworks' net income rose to $66.5 million, or 34 cents per share, in the first quarter, from $57.1 million, or 30 cents per share, a year earlier. Excluding items, the company earned 55 cents per share. Revenue rose 15 percent to $454 million. Analysts on average had expected earnings of 54 cents per share on revenue of $450.5 million, according to Thomson Reuters I/B/E/S. Shares of the Woburn, Massachusetts-based company rose to $24.05 in extended trading. They closed at $21.56 on Wednesday on the Nasdaq. (Reporting By Aditya Kondalamahanty in Bangalore; Editing by Supriya Kurane)

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