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

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

Earnings before interest, ෴taxes, depreciation, and amortization (EBITDA) 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’ for൩ecasts, but EPS of $0.72 was better than ไexpected. 

The positive earnings news helped lift 澳洲幸运5开奖号码历史查询:American Depositary Receipts (ADRs) of Anheuser-Busch InBev more tha🥂n 1% today, but they remain lower for 2023.