LEUVEN, Belgium (AP) — LEUVEN, Belgium (AP) — Anheuser Busch Inbev SA (BUD) on Wednesday reported first-quarter earnings of $1.09 billion.

The Leuven, Belgium-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring costs, were 75 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The brewer posted revenue of $14.55 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $14.41 billion.

Anheuser-Busch Inbev shares have declined slightly more than 6% since the beginning of the year. The stock has dropped slightly more than 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BUD at https://www.zacks.com/ap/BUD