UPDATE: Tyson Posts Higher Q3 Profit

Tyson Foods TSN reported a rise in its third-quarter profit. Tyson's quarterly profit surged to $249 million, or $0.68 per share, from $76 million, or $0.21 per share, in the year-ago period. Its adjusted net income climbed to $0.68 per share from $0.50 per share. Its revenue surged to $8.7 billion from $8.3 billion. However, analysts were projecting earnings of $0.60 per share on revenue of $8.66 billion. Tyson projects FY13 sales of $34.5 billion, and FY14 sales of $36 billion. Tyson shares gained 5.23% to $30.00 in pre-market trading.