AMSTERDAM (AP) — Budweiser maker Anheuser-Busch InBev SA, the world’s largest brewer, says second quarter earnings fell due to higher taxes and financing costs.
Net profit at the Leuven, Belgium-based company was $1.50 billion (1.13 billion euros), or $0.93 per share, from $1.96 billion, or $1.21 per share in the same period a year ago. Revenues increased 1.9 percent to $10.6 billion, on a mix of higher prices and lower volumes, the company said Wednesday.
The sales figures were better than expected, according to analysts polled by ThomsonReuters, but earnings were worse.
In June, AB InBev closed its $20.1 billion acquisition of Corona brewer Grupo Modelo, after selling Modelo’s U.S. business to Constellation Brands Inc., including rights to Corona there.
InBev said net debt at the end of the quarter was $43.1 billion.