- White House Plans to Freeze Spending to Cut Deficit
- Week Ahead: Investors Go for Quality, Assess Recovery
- Hedge Fund Billionaire Paulson Reports New Citi Stake
- Cramer: 5 Earnings Reports to Watch Next Week
- Court Rejects 'Clawbacks' for Alleged Stanford Victims
- Cities With the Most Home Price Reductions
- Tax Credit Sparking First-Time Home Sales: Realtors
- Investors Cut Back US Stocks for Bigger Growth Abroad
- This Year's Biggest Thanksgiving Leftover: Cash
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
- First Time Buyers Rescue Housing: Realtors
- Dollar General Trades Higher After Its IPO
MOST SHARED
- Today's Market Action
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Seeking Innovation in Health Care
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- Low Interest Rate Investing
- China's Role as Lender Alters Dynamics for United States
- Israel Going Green
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
- Inside Wal-Mart's Acai Berry Juice Maker
Text Size 
Anheuser-Busch [BUD
Loading...
()
] said that quarterly profit rose, helped by cost cutting and higher beer prices. But the results fell short of analysts' expectations.
 |
AP Anheuser-Busch reported that profit roses in the first-quarter. |
Analysts on average were expecting 69 cents a share, according to Reuters Estimates.
Income before income taxes fell 3.1%, due mostly to lower profits in U.S. and international beer operations and increased interest expense, the company said.
Total net sales for the quarter rose 2.6% to $4.41 billion. Sales by volume, a key measure in the beverage industry, rose to 37.6 million barrels from 36.8 million a year ago.
Revenue per barrel was up 2.3% on pricing increases.
Last year the company made price cuts amid sluggish growth in the U.S. beer market, forcing competitors like Miller Brewing, a unit of SABMiller, to follow suit.
Anheuser-Busch, whose Bud Light is the top-selling beer brand in the United States, controls about half the U.S. beer market.
But Bud Light's dominance is being challenged by imported light beers, such as Heineken Premium Light and Corona Light.
Print
Email
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.
- A wealthy, distracted Texas driver crashed his million-dollar Bugatti Veyron sports car into a salt marsh, say police.
Data is a real-time snapshot *Data is delayed at least 15 minutes