AB InBev Posts Rise In Q3 Profit

Anheuser-Busch InBev

reported a rise in its earnings for the third quarter. AB InBev posted a quarterly net profit of EUR2.32 billion ($2.93 billion), versus a year-ago profit of EUR2.21 billion. Revenue gained to $12.24 billion from $11.73 billion, while organic growth came in at 2.3% in the quarter. Total volumes slipped 2.6% organically, while overall beer volumes declined by 2.7% in the quarter. Normalized EBITDA rose to $4.75 billion from $4.66 billion, versus analysts' estimates of $5.00 billion. In the US, AB InBev's sales volumes dropped 3.7%, while revenue slipped 2.6%. The company's board approved an interim dividend of 1.00 euro a share for FY14. AB InBev shares fell 2.86% to $106.86 in pre-market trading.