Originally published at www.seclive.com
Anheuser-Busch InBev SA/NV (NYSE:BUD) reported third quarter profits that exceeded analyst expectations, as the company announced its recent quarterly financial results. The world's largest brewer reported earnings that increased from $1.818B and $1.13 per share a year ago to $2.366B and $1.44 per share. Revenue improved 14% from $10.269B to $11.729B while total volumes declined 1.3%. The company increased its prices, which explains the increased revenue on lower volumes, and also was able to reduce some expenses thanks to cost synergies realized with its completed purchase of Grupo Modelo. The Grupo Modelo purchase has saved Anheuser-Busch $250M since its closing four months ago and the company says it is on track to reach its $1B goal by 2016. World Cup 2014 is expected to bring the company up to a quick start next year, with Budweiser as the official beer for the World Cup.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.