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The company said 70% of its global revenue now flows through digital channels as it expands BEES across 29 markets and deepens connections with small and midsized retailers.

Anheuser-Busch InBev closed its fiscal Q3 2025 with slight sales growth but strong digital gains, underscoring how the world’s largest brewer is relying more on technology to offset weakening global beer demand.

For its fiscal Q3 ending Sept. 30, AB InBev reported revenue of $15.13 billion. That’s up 0.6% from $15.05 billion a year earlier. Organic revenue rose 0.9%, driven by price increases and premium brand performance. Beer volume declined 3.9%, and non-beer volume slipped 2.2%.

Through the first nine months of the year, revenue totaled $43.76 billion, down 2.6% from $44.93 billion in 2024, but up 1.8% organically once currency effects were excluded.

AB InBev’s digital growth in Q3

The company’s clearest momentum came online. Its business-to-business (B2B) ecommerce platform, BEES recorded $13.3 billion in gross merchandise value for the quarter. That’s an 11% increase from $12 billion a year ago. BEES lets retailers order and track inventory digitally.

Within that platform, BEES Marketplace, surged 66% to $935 million from $563 million in the prior year. The BEES Marketplace sells third-party goods alongside AB InBev beverages.

AB InBev said 70% of its global revenue now flows through digital channels as it expands BEES across 29 markets and deepens connections with small and midsized retailers.

Its direct-to-consumer (DTC) business has also gained ground. Digital brands such as Zé Delivery in Brazil, TaDa Delivery in Mexico and PerfectDraft in Europe handled 17.9 million ecommerce orders in the quarter. That’s up from 17.2 million a year earlier. Those sales generated about $138 million in revenue, up 4% year over year, with total DTC revenue reaching $325 million.

CEO Michel Doukeris said the company’s strategy of pairing its megabrands with digital and product innovation continues to pay off. “Driven by the momentum of our megabrands and our innovation in balanced choices and Beyond Beer, our business delivered continued top- and bottom-line growth, even as we navigated a dynamic consumer environment,” Doukeris said in the quarterly report.

AB InBev Q3 results by geography

  • In the U.S., revenue slipped 0.8% to $3.77 billion from $3.80 billion, though Michelob Ultra continued to gain share as the country’s top-selling beer by volume.
  • In Brazil, revenue declined 1.9% to $2.80 billion from $2.85 billion, hurt by unfavorable weather.
  • In China, sales fell 15.2% to $1.53 billion from $1.80 billion as AB InBev shifted marketing toward in-home consumption.
  • In Europe, revenue rose to $2.52 billion from $2.35 billion, supported by strong demand for Corona and Stella Artois.

Beyond its core beer portfolio, AB InBev’s Beyond Beer and non-alcohol offerings grew 27% year over year. The Cutwater ready-to-drink line in the U.S. posted triple-digit gains, while Corona Cero led non-alcoholic growth globally.

Taken together, the quarter highlighted how AB InBev’s future depends less on pouring more beer and more on scaling digital commerce. The BEES network has become the digital backbone linking millions of retailers, while its DTC platforms are reshaping how consumers order at home.

Check back for more earnings reports. Here’s last quarter’s update on AB InBev digital sales and revenue.

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