<p>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.</p>.<p>The world's largest brewer, which makes around a quarter of all beer drunk globally, said volumes fell 1.4 per cent despite growth in most markets. Average prices were up 9.0 per cent year-on-year due to price hikes and as consumers shifted to more expensive drinks.</p>.<p>In China, AB InBev sold 11 per cent more beer by volume and over 20 per cent more higher-priced "premium" beers, pushing revenue and profit there above pre-pandemic levels.</p>.<p>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.</p>.<p>The opposite was the case in the United States, normally the company's biggest market, where Bud Light lost its top spot to Constellation Brands' Modelo Especial following a conservative backlash over a social media promotion with transgender influencer Dylan Mulvaney.</p>.<p>Bud Light US sales through retail stores have fallen by at least 25 per cent, but the company said they had now stabilised, with a survey showing about 80 per cent of consumers favourable or neutral towards the brand.</p>.<p>AB InBev said its core profit (EBITDA) for the April-June period rose 5.0 per cent year-on-year on a like-for-like basis to $4.91 billion, against expectations of a 0.4 per cent increase in a company-compiled poll.</p>.<p>The Belgium-based company maintained its 2023 forecast that EBITDA would grow in line with its medium-term outlook of between 4 per cent and 8 per cent, with revenue growing ahead of EBITDA. </p>
<p>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.</p>.<p>The world's largest brewer, which makes around a quarter of all beer drunk globally, said volumes fell 1.4 per cent despite growth in most markets. Average prices were up 9.0 per cent year-on-year due to price hikes and as consumers shifted to more expensive drinks.</p>.<p>In China, AB InBev sold 11 per cent more beer by volume and over 20 per cent more higher-priced "premium" beers, pushing revenue and profit there above pre-pandemic levels.</p>.<p>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.</p>.<p>The opposite was the case in the United States, normally the company's biggest market, where Bud Light lost its top spot to Constellation Brands' Modelo Especial following a conservative backlash over a social media promotion with transgender influencer Dylan Mulvaney.</p>.<p>Bud Light US sales through retail stores have fallen by at least 25 per cent, but the company said they had now stabilised, with a survey showing about 80 per cent of consumers favourable or neutral towards the brand.</p>.<p>AB InBev said its core profit (EBITDA) for the April-June period rose 5.0 per cent year-on-year on a like-for-like basis to $4.91 billion, against expectations of a 0.4 per cent increase in a company-compiled poll.</p>.<p>The Belgium-based company maintained its 2023 forecast that EBITDA would grow in line with its medium-term outlook of between 4 per cent and 8 per cent, with revenue growing ahead of EBITDA. </p>