UPDATE: Anheuser-Busch Inbev Q1 Net Profit Surges 75%
Anheuser-Busch Inbev SA/NV (NYSE: BUD) reported a 75% rise in its first-quarter net income.
Anheuser-Busch Inbev's quarterly earnings climbed to $1.69 billion, or $1.06 per share, versus $964 million, or $0.61 per share, in the year-ago period. Its adjusted earnings came in at $1.05 per share.
Its revenue rose to $9.33 billion from $9 billion. However, analysts were expecting a profit of $1.39 billion on revenue of $9.35 billion.
Revenue per hectoliter climbed 4.9% in the first-quarter. However, beer volume gained 1.8%.
Anheuser-Busch Inbev shares closed at $72.60 on Friday.
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