Revenue for Anheuser-Busch jumped 2.6% to $14.55 billion from higher prices, but volume sold dropped 0.6%, though it was less than Wall Street anticipated. The largest decline came from North America, where volume dropped 9.9%, largely due to sales of Bud Light.

Sales to retailers and wholesalers were down 13.7% and 10.7%, respectively, in the US.

"We've lost a whole generation of hardcore Bud Light shoppers," Bump Williams of Bump Williams Consulting told Yahoo Finance. "It's going to take us at least 10 years to try and recapture what we lost in one year."