Once again, the world’s largest brewer increased profits and revenue while selling less beer.
Anheuser-Busch InBev announced second quarter earning yesterday with revenue up 4.7% over same period last year, to $9.9 billion while overall beer sales declined 0.1 percent.
The biggest decline in sales came in the U.S., were volume was off 2.1% with sales-to-retailers down 0.2%.
Although beer sale volumes in the U.S. have yet to reverse a three-year decline, AB InBev increased revenue 4.4% in the US in the second quarter. Not all the increase came from price increases or inner efficiencies; one-third of the benefit came from drinkers trading up to more expensive beers like Bud Light and Michelob Ultra.