AB InBev reports higher-than-expected revenue in first quarter despite ongoing weakness in the US

Anheuser-Busch InBev reported higher-than-expected revenue in the first quarter despite lower sales in the U.S. and China. The world’s largest brewer said its revenue rose 2.6% to $14.5 billion, beating Wall Street’s forecast. Volumes declined 0.6% for the January-March period. The company continued to struggle in the U.S., where revenue fell by 9% for the quarter. Sales of Bud Light, the company’s longtime bestseller in the U.S., plunged last spring amid conservative backlash after the brand sent a commemorative can to a transgender influencer. But the company says other brands like Michelob Ultra are gaining market share.