Anheuser-Busch InBev Beats Profit Forecast Despite Bud Light Boycott

Anheuser-Busch InBev's second-quarter revenue rose by 7.2%, shattering expectations by analysts. The company noted that organic growth in earnings before interest, taxes, depreciation, and amortization was 5%, well above the forecast of 0.4%.

The world's largest brewer said that price hikes helped offset a 1.4% decline in volume. The company also cited significant growth in South Africa, Colombia, and China.

The positive results come despite a boycott of Bud Light in the United States after the brewer sent a personalized can to transgender influencer Dylan Mulvaney. The boycott resulted in Bud Light being dethroned as the best-selling beer in the United States and cost the company $395 million in revenue in North America during the second quarter.

While the company did not specifically mention the boycott in its earnings report, it did highlight research from a third-party firm it hired, showing that 80% of customers surveyed had a "favorable or neutral" view of Bud Light.