AB InBev Net Profit Falls in Second Quarter

By Tom Fairless

BRUSSELS--Anheuser Busch InBev NV on Thursday said its net profit fell in the second quarter from a year earlier, as weakness in the U.S. and Europe weighed on sales volume.

AB InBev, the world's largest brewer, said net profit fell to $1.9 billion in the three months to end-June from $2.8 billion in the corresponding period a year earlier. The brewer booked a $139 million loss on derivatives used to hedge the price of shares it hands out as compensation to employees.

Revenue fell to $11.1 from $12.2 billion a year ago, a decline the brewer attributed to weak economic conditions in a number of markets, and "unfavorable weather, especially in the U.S. and China."

Sales in Brazil were down 7.9% year-on-year due to "an unfavorable macroeconomic environment" and a comparison with a year-earlier period during which the country hosted the soccer World Cup tournament. Sales in Europe and the U.S. also were weak.

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