Beer giant AB InBev beats profit estimates, with Bud Light boycott set to ease one year on

AB InBev, the world’s largest brewer, reported strong revenue and profit growth in the first quarter. Despite a year-long boycott of its Bud Light brand in North America, the company managed to escape relatively unscathed. Revenue increased by 2.6% to $14.55 billion, slightly surpassing analyst estimates, while volumes dropped by 0.6%. Underlying profit reached $1.5 billion. The boycott, fueled by a social media campaign, began in April 2023 and impacted sales throughout the year. However, sales were strong in other regions, such as Europe, Mexico, and South Africa.