April 22 (Reuters) - Chipmaker Skyworks Solutions Inc forecast third-quarter results above Wall Street estimates on strong sales of analog chips used to connect machines to the Internet.
The company’s shares rose about 8 percent to $40.90 in extended trading.
Skyworks, whose analog chips are used in e-book readers, cable modems and LED lighting, forecast current-quarter adjusted earnings of 73 cents per share, on revenue of $535 million.
Analysts on average were expecting earnings of 63 cents per share on revenue of $488.2 million, according to Thomson Reuters I/B/E/S.
Machine-to-machine connectivity, more commonly known as the “Internet of Things”, allows machines on both wired and wireless networks to interact with one other. (Reporting By Aurindom Mukherjee in Bangalore; Editing by Savio D‘Souza)