News Snapshot:
The world’s largest brewer finally has another reason for making headlines besides its Bud Light marketing blunder: Stellar earnings. Belgian firm Anheuser-Busch InBev reported core profit of $4.76 billion, up by 13.6% from the first quarter of 2022, in its first-quarter earnings today (May 4). The company attributed the massive surge–Wall Street was expecting a jump of around 5.6%—to “pricing actions” and “product premiumizations.” In other words, price hikes were absorbed by customers, and many of them opted for higher-tier products this quarter. Advertisement In announcing better-than-expected results, AB InBev didn’t bring up the Bud Light controversy or its fallout—likely...
