Beverly Hills 2/6/2010 12:47:41 AM
News / Business

Meat Maker Tyson Beats Analysts Expectations

Finance World News Update by EQUITIES Magazine

Tyson Foods Inc. posted a fiscal first-quarter profit that beats analysts’ estimates due to higher revenues at its chicken and beef divisions.

Net income was $160 million, or 42 cents a share, compared with a net loss of $102 million, or 27 cents, a year earlier, Springdale-based Tyson said today in a statement. Analysts, on average, expected profit of 17 cents. Sales climbed 1.7 percent to $6.64 billion.

The company reported that volume at its beef and chicken divisions increased 7.2 and 2.8 percent respectively.

Tyson stocks were up $1.06, or 7.6 percent, to $15.05.

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