Tyson Posts Better-Than-Expected Profit, Bets On Chicken

Tyson Foods Inc reported stronger-than-expected quarterly results on Monday, sending its shares up 5 percent, and said it would ramp up chicken production in the face of record demand from U.S. consumers.

Tyson said it spent more money on advertising and marketing for chicken in the third quarter ended on July 1, bringing down operating income for that segment.

Still, the company is working to increase its production capacity for fully cooked chicken and raw meat sold in packages in grocery stores to meet demand, Chief Executive Officer Tom Hayes said on a conference call with analysts.

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