SPRINGDALE, Ark. -- Tyson Foods Inc. on Thursday reported fiscal first-quarter net income of $467 million.
On a per-share basis, the Springdale, Arkansas-based company said it had net income of $1.28. Earnings, adjusted for non-recurring costs, were $1.94 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The meat producer posted revenue of $10.46 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $11.08 billion.
Tyson shares have risen 7.5% since the beginning of the year, while the Standard & Poor's 500 index has increased 4%. The stock has dropped 15% in the last 12 months.