Tyson Foods raised its annual revenue forecast and reported better-than-expected quarterly earnings on Monday as consumers' increased appetite for chicken helped offset steep losses in its beef business.

Tyson Foods lifted its sales guidance for the fiscal year after driving past revenue expectations for the third quarter with higher prices and largely stable volumes.

Tyson Foods Inc. raised its earnings forecast after quarterly profit unexpectedly rose as a boom in US chicken continues to offset losses in the beef business.