Anheuser-Busch InBev (BUD) -) partnered with transgender influencer Dylan Mulvaney back in April. The partnership set off one of the most significant, long-lasting social media backlashes in recent history, with the beer brand facing criticism from conservatives for partnering with Mulvaney, as well as from progressives for failing to support the influencer.
Bud Light, as a result of social media boycotts, in May lost its spot as the best-selling beer in the U.S. to Modelo. Bud Light U.S. sales have fallen by more than 20% for the year so far.
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But in the midst of this tense environment, AB InBev was able to beat Street forecasts for the quarter, boosting global revenue by 7.2% even as total volumes fell by 1.4%. The company's major negative region for the quarter was North America, where revenue declined by 10.5%, though the company said that market share has been stable since the end of April.
AB InBev tracked double digit growth in Mexico and high single-digit growth in Colombia, South America and Europe. Though the company did not mention the Bud Light boycott directly, it noted that, though 80% of customers surveyed were "favorable or neutral" toward the brand, people want "their beer without a debate."
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"In times like these, when things get divisive and controversial so easily, I think it's an important wake-up call to all of us marketers first of all to be very humble," AB InBev's global chief marketing officer, Marcel Marcondes, said in June. "That's what we're doing, being very humble, and really reminding ourselves of what we should do best every day, which is to really understand our consumers."
AB InBev's stock was up more than 3% Thursday morning, though the company's share price is still far off from the high of $61 it hit before the backlash in April.
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