Filing Flows › Anheuser-Busch InBev SA (BUD) › Q3 2025
Anheuser-Busch InBev SA (BUD) Q3 2025 earnings results (third quarter 2025)
6-K filed Oct 30, 2025
Anheuser-Busch InBev SA (BUD) reported revenue of $15.1B for the third quarter 2025 (Q3 2025), +0.6% from a year earlier and -49% from the quarter before. Operating margin was 11.8%, net earnings $1.1B (7.0% of revenue).
Anheuser-Busch InBev SA, Q3 2025: revenue $15.1B (+0.6% year over year), operating margin 11.8%, net earnings $1.1B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.1B | -49% | +0.6% |
| Gross profit | $8.5B | -0.4% | +2% |
| Operating profit | $1.8B | -20% | -37% |
| Net earnings | $1.1B | -28% | -49% |
What changed
Revenue was $15.1B in Q3 2025, up 1% year over year and down 49% from the previous quarter.
Gross margin was 56.4%, up 0.8 points from a year earlier. Operating profit was $1.8B, a 11.8% margin (down 7.0 points year over year). Operating profit fell $1.0B even though revenue rose $0.09B versus a year earlier, so costs grew faster than sales. Operating expenses grew 22% against revenue growth of 1%. Net earnings were $1.1B, down 49% year over year. The effective tax rate was 40.8%.
Questions
What was Anheuser-Busch InBev SA's revenue in the third quarter 2025?
Anheuser-Busch InBev SA (BUD) reported revenue of $15.1B for the third quarter 2025 (Q3 2025), +0.6% from a year earlier and -49% from the quarter before.
Was Anheuser-Busch InBev SA profitable in the third quarter 2025?
Operating profit was $1.8B (11.8% of revenue) and net earnings $1.1B.