Anheuser-Busch InBev reported a global revenue increase of 7.2 percent.
reported a global revenue increase of 7.2 percent. Additionally, the company reported earnings before interest, taxes, depreciation and amortization of 5 percent, which beat analysts' predictions of .4 percent, the Financial Times reported.
The earnings call on Thursday came as conservatives continue to boycott Bud Light, which is owned by Anheuser-Busch, after the beer brand partnered withThe boycott began in April after Mulvaney posted a video toshowcasing a customized Bud Light can she received to celebrate her transition to a woman.
A stock photo of friends toasting with glasses of beer. On August 3, 2023, Anheuser-Busch InBev beat analysts' predictions during its second quarter of 2023 despite a continued decline in Bud Light sales.Over the past several months, the boycott has continued and numerous reports have shown a decline in the beer's sales in different weeks.
According to a presentation from the Anheuser-Busch InBev earnings call, U.S. revenue declined by 10.5 percent and the company said:"Performance impacted by volume decline of Bud Light."According to the Financial Times, analysts at RBC Capital Markets said:"Given Bud Light's travails this is an impressive demonstration of AB InBev's resilience and diversification. We believe that the share price has overreacted to the Bud Light situation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bad as it was, the biggest drag on Anheuser-Busch InBev profit wasn't Bud LightAnheuser-Busch InBev on Thursday reported a big drop in profit for the second quarter, and as expected results in North America suffered after consumer...
Read more »
Anheuser Busch revenue drops nearly $400 million after Bud Light controversyThe controversy surrounding Bud Light in the U.S. seriously cut into parent company Anheuser Busch’s bottom line, according to a recent report.
Read more »
Anheuser-Busch U.S. sales decimated 'primarily due to' Bud Light boycottThe brewery's latest earnings report shows revenues were down 10.5 percent in the U.S. between April and June as its beer brand Bud Light faced controversy.
Read more »
Bud Light loses $395 million after transgender promotionAnheuser-Busch Inbev said sales are stabilizing after U.S. revenue fell 10.5% in second quarter.
Read more »
Bud Light sales plunge following boycott over campaign with transgender influencerAnheuser-Busch InBev has reported a drop in U.S. revenue in the second quarter as Bud Light sales plunged amid a conservative backlash over a campaign with transgender influencer Dylan Mulvaney
Read more »