LEUVEN, Belgium (AP) — LEUVEN, Belgium (AP) — Anheuser Busch Inbev SA (BUD) on Thursday reported third-quarter profit of $2.07 billion.

On a per-share basis, the Leuven, Belgium-based company said it had net income of $1.03. Earnings, adjusted for non-recurring gains, came to 98 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The brewer posted revenue of $15.05 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $15.65 billion.

Anheuser-Busch Inbev shares have dropped almost 3% since the beginning of the year. The stock has increased 16% 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