Hiking beer prices led Budweiser owner Anheuser-Busch InBev to profit and revenue growth last year, even U.S. sales of staple brand Bud Light were curbed by boycott action.
The world's biggest brewer on Thursday recorded annual revenue of $59.38 billion, up 7.8%, but shy of analyst expectations of $60.48 billion, according to an LSEG-compiled consensus.
Core profit (EBITDA) rose 7% annually to nearly $20 billion, also just under a forecast of $20.1 billion.
The company became embroiled in a social media-driven boycott of its core Bud Light brand in the middle of last year.
It also weathered wider beer industry struggles from higher input costs and a squeeze on consumer spending.
Persons:
Light, Bud Light, Michel Doukeris
Organizations:
Budweiser, Anheuser, Busch InBev, InBev
Locations:
U.S