LONDON, July 30 (Reuters) - Brewer Anheuser-Busch InBev reported forecast-beating revenue, profit and volumes in the second quarter on Thursday, but its shares fell as weakness in China tempered a sales boost from the soccer World Cup.
Shares in the world's largest beer maker by market value slipped 1% in early trade. They had risen around 36% since the start of the year as investors grew more optimistic about the sector following a difficult 2025.
The Budweiser maker reported a 5.8% rise in second-quarter organic operating profit, higher than the 4.6% growth expected by analysts. Revenue also beat forecasts, while volumes rose for a second consecutive quarter after years of decline.
AB InBev also beat forecasts in the first quarter.
Americas strength offset by China weakness
Beer volumes hit record highs in the quarter in Mexico, Colombia, and Ecuador, and returned to growth in Brazil, one of AB InBev's largest markets, though analysts noted the company benefited from easier comparisons there.
In the United States, however, sales to wholesalers and retailers fell in a market where consumers are cutting back on alcohol spending or switching to spirits and canned cocktails, though AB InBev said it outperformed the wider industry.
Volumes also declined 9.7% in China, where AB InBev has performed worse than major rivals in an industry-wide downturn in demand.
Broader challenges such as shifting drinking habits, competition from alternatives such as cannabis cocktails and emerging threats including weight-loss drugs have also weighed on profit growth.
"There were a few puts and takes, but in aggregate this was a solid performance," RBC Capital Markets analyst James Edwardes Jones said, while adding there was a risk of disappointment around the second-quarter performance given the strong run in AB InBev shares in recent months.
Brands and World Cup sponsorship boosted sales
Across the industry, brewers' efforts to grow sales have been challenged by pressure on consumer spending, geopolitical uncertainty and unfavourable weather.
AB InBev said key global brands such as Corona, Stella Artois and Michelob Ultra posted revenue growth of 17%, 19% and 21%, respectively, outside their home markets, helped by the recent World Cup, for which the brewer was a major sponsor.
"The momentum of our business continued in Q226," the company said in a statement.
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