U.S.-listed shares of Anheuser-Busch InBev (BUD) gained Thursday as the world's biggest beer brewer easily beat earnings estimates as lower costs offset falling volumes.

The maker of brands including Budweiser and Michelob reported first-quarter net profit of $2.15 billion, nearly double what it was a year ago. Analysts surveyed by Visible Alpha were looking for $1.66 billion. Revenue rose 1.5% year-over-year to $13.63 billionღ, short of forecasts.

AB InBev’s selling, general, and꧃ administrative expenses (SG&A) decreased nearly 6% to $4.19 billion. The company pointed to disciplined resource allocation, overhead management, and optimization of 澳洲幸运5官方开奖结果体彩网:capital expenditures for the decline.

Volumes Fell 2.2% Year-Over-Year

Beer sales declined in the U.S., Europe, and China, but they gained in Latin America and South Africa. Total beer and non-beer volume dipped 2.2%, which the company blamed on "calendar-related factors such as cycling the leap year selling-day benefit in 1Q24 and Easter shipment phasing."

CEO Michel Doukeris said that the consistent execution of AB InBev's strategy "drove a solid start to the year and reinforces our confidence in delivering on our outlook for 2025."

Following the report, U.S.-listed shares of AB InBev rose about 2.5% to trade at their 2025 high.