The per-share results in the recent quarter would have been lower, if not for a nearly 4 percent decline in the number of outstanding shares over the last year.

Analysts, on average, expected a profit of 54 cents a share, according to FactSet.

Revenue in the period, which ended June 30 and was the third quarter of Tyson’s fiscal year, edged up less than a percent to $8.31 billion from $8.25 billion. Analysts expected $8.72 billion.

Shares of Tyson, which is based in Springdale, Ark., fell $1.23, or 8 percent, to $14.17.

Chicken sales rose 3.6 percent to $2.9 billion, while beef sales fell less than a percent to $3.49 billion. In both cases, higher prices offset the effects of lower sales volumes. Pork sales fell 4.5 percent to $1.34 billion, as average prices fell, but sales volumes increased.

Tyson said demand for meat and poultry during the quarter was lower than expected in the United States, adding that the difficult market conditions will result in a lower-than-expected 2012 profit. The rising cost of grain because of drought conditions in some of the country may affect the company’s profit into 2013.

As a result, Tyson cut its full-year sales prediction by $1 billion to $33 billion. For fiscal 2013, the company said it expected its revenue to rise to about $35 billion, mainly as a result of price increases.