Shares of Budweiser Brewing APAC (BUD APAC) surged 13.39% in intraday trading on Wednesday, following the company's better-than-expected fourth-quarter results. The beer giant's narrowing losses and plans for market share growth fueled investor optimism about a potential turnaround.
BUD APAC reported an attributable loss of $16 million in Q4 2024, significantly lower than the $23 million loss in the year-ago period. While revenue declined 11% to $1.14 billion, it met analysts' estimates, indicating that cost-cutting measures are taking effect.
The company plans to "reconnect with market share growth" in mainland China and South Korea, its two key markets. It also aims to enhance its premium segment in India, a potential growth driver. With a focus on digital transformation and premium offerings, BUD APAC seems poised to regain its footing in the Asia-Pacific region.
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