Anheuser-Busch InBev reported higher-than-expected second-quarter earnings and held its 2023 forecast on Thursday as a post-COVID-19 recovery in China and strength elsewhere offset the impact of a backlash against Bud Light in the United States.
Non-alcoholic Jupiler beer bottles are seen at the headquarters of Anheuser-Busch InBev in Leuven, Belgium February 28, 2019. REUTERS/Francois Lenoir/File Photoreported higher-than-expected second-quarter earnings and held its 2023 forecast on Thursday as a post-COVID-19 recovery in China and strength elsewhere offset the impact of a backlash against Bud Light in the United States.
The world's largest brewer, which makes around a quarter of all beer drunk globally, said volumes fell 1.4% despite growth in most markets. Average prices were up 9.0% year-on-year due to price hikes and as consumers shifted to more expensive drinks. In China, AB InBev sold 11% more beer by volume and over 20% more higher-priced "premium" beers, pushing revenue and profit there above pre-pandemic levels.
The maker of Budweiser, Stella Artois and Corona said revenue and profits were also higher in major markets Brazil, Colombia, Mexico and Europe as a whole. The opposite was the case in the United States, normally the company's biggest market, where Bud Light
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