AB InBev beats profit expectations despite selling less beer

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Globally, the maker of Budweiser, Corona and Stella Artois said on Thursday that its drinks volumes fell by 0.6% in the final quarter of 2022, compared with a rise expected by the market. However, it more than compensated for the decline with higher prices.

The company’s core profit – earnings before interest, tax, depreciation and amortisation – rose 7.6% on a like-for-like basis to $4.95 billion, above the 7.1% gain expected by analysts in a company-compiled poll.

The Belgium-based company said that core profit would grow in 2023 in line with its medium-term outlook range of 4% to 8%, with revenue expanding at a higher rate than profit.