Meat producer Tyson Foods Inc. has informed that there has been a huge rise in its net income figure in the third quarter of the current financial year.

According to the company officials there has been a hike in beef and pork prices which has helped the net income of the firm to take a jump. Moreover, the chicken business is recovering well which is a good sign for the company.

The company has reported a net income of $248 million in the quarter that ended on 3rd of July, 2010. That means there has been a hike of 65 cents per share in the quarter under review. The company has a net income of $131 million in the previous year.

There has been an increment of 35 cents per share last year. The company has also informed that the revenue has gone up to 11.6% in this quarter. It was reported to be $7.44 billion. Earlier the market experts have expected that there will be 58 cents per share earnings for the company with a revenue figure of $7.26 billion. The firm had gone pass the expected figure marginally.