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UPDATE 1-Tyson Foods profit surges on higher meat prices
February 4, 2011 / 12:55 PM / in 7 years

UPDATE 1-Tyson Foods profit surges on higher meat prices

Feb 4 (Reuters) - Tyson Foods Inc’s (TSN.N) quarterly earnings surged 86 percent as it sold beef and pork at much higher prices.

First-quarter earnings at the world largest meat company were $298 million, or 78 cents per share, compared with $160 million, or 42 cents, a year earlier.

Wall Street analysts, on average, had expected 62 cents, according to Thomson Reuters I/B/E/S.

Revenue for the quarter was $7.6 billion, while Wall Street expected $7.15 billion. (Reporting by NR Sethuraman in Bangalore; Editing by Gopakumar Warrier)

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