The world’s largest brewer is counting the costs of being swept into a controversy over Bud Light in the United States, Michelle Toh reported for CNN.
Photo Insert: Bud Light's revenue fell $395 million in North America during the period, compared to the same time a year ago.
AB InBev said Thursday that US revenue fell 10% in the second quarter as sales of its top brand slumped.
Sales to US retailers declined by 14%, underperforming the wider beer industry, primarily due to the decline in the volume of Bud Light it sold, the company said in a statement, Juliana Liu and Danielle Wiener-Bronner also reported for CNN.
Revenue fell $395 million in North America during the period, compared to the same time a year ago.
That figure included sales in Canada, where revenue rose, suggesting the slump was isolated to the United States and that the losses on Bud Light may have been even greater.