Controversy over Anheuser-Busch InBev’s (BUD) partnership with transgender social media influencer Dylan Mulvaney sunk the beermaker’s saꦕles in the second quarter.

The company reported second quarter North American revenue plunged $395 million. U.S. sales to wholesalers fell 15% and those to retailers dropped 14%. ABꦕ InBev indicated the reason was “primarily due to🤡 the volume decline of Bud Light” after Mulvaney was hired to promote the beer.

Earnings ཧbefore interest, taxes, depreciation, and amortization (E⛦BITDA) for the U.S. unit slipped 28.2%. 

The beermaker noted its performance was strong internationally, but because of the decline in U.S. demand, volumes slipped 1.4%. However, it noted the domestic market has stabilized since sinking in April when AB InBev partnered with Mulvaney.  

Overall revenue rose 7.2% to $15.12 billion, missing analysts’ forecast⛎s,꧅ but EPS of $0.72 was better than expected. 

The positive earnings news helped lift 🐷澳洲幸运5官方开奖结果体彩网:American Depositary Receipts (ADRs) of Anheuser-Busch InBev more than 1%♐ today, but they remain lower🐈 for 2023.