Earnings

Bud Light continues to weigh on AB InBev results, but revenue climbs

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Bud Light, made by Anheuser-Busch.

Joe Raedle | Getty Images

Hiking beer prices led Budweiser owner Anheuser-Busch InBev to profit and revenue growth last year, even U.S. sales of staple brand Bud Light were curbed by boycott action.

The world’s biggest brewer on Thursday recorded annual revenue of $59.38 billion, up 7.8%, but shy of analyst expectations of $60.48 billion, according to an LSEG-compiled consensus. Volumes sold fell by 1.7%, with beer brands declining by 2.3%.

Core profit (EBITDA) rose 7% annually to nearly $20 billion, also just under a forecast of $20.1 billion.

Belgium-listed shares dipped 0.2% in early Thursday trade.

Fourth-quarter sales came in slightly ahead of…



Source cnbc.com

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