AB InBev's Q3 earnings beat expectations, but Bud Light boycott persists

AB InBev, the world's largest brewing company, exceeded expectations in Q3 with a 5% increase in revenue, reaching $15.57 billion. However, the ongoing Bud Light controversy, including a boycott led by conservatives protesting the brand's partnership with a transgender influencer, continued to impact U.S. sales, resulting in a 13.5% drop in revenue and a 29.3% decline in EBITDA. Despite this, the company's performance in other markets, such as the Middle East, Africa, and Asia-Pacific, helped offset the weak U.S. sales. AB InBev also announced a $1 billion share buyback and a cash tender offer for up to $3 billion outstanding bonds as part of its focus on deleveraging.