The brewer behind Budweiser, Bud Light and Corona made an underlying profit of $1.51 billion in the first quarter.
Beer giant Anheuser-Busch InBev saw its U.S. revenue decline by 9.1 percent in the first quarter of 2024, as the boycott of Bud Light continued to hit sales.The world's largest brewery, which also makes brands like Corona and Stella Artois, reported that sales to retailers had fallen nearly 14 percent 'primarily due to the volume decline of Bud Light.
Sales volumes increased in Europe and Mexico in part thanks to an earlier Easter, the company said.The beermaker also cited its diverse product portfolio of drinks, beyond its famous beer brands, as a reason for revenue growth.The company reported an underlying profit for the quarter of $1.51 billion, compared to $1.31 billion in the same period last year.
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