Corona Beer Loses $170,000,000 Profit Because of Coronavirus

• Beer manufacturer Anheuser-Busch InBev​ has reported that they are losing a huge amount of money because of the coronavirus outbreak.
• Apparently, some people are associating their Corona beer to the said virus.
• Demand for the beer have dropped in China following the spread of the disease in the country since December 2019.

It sounds purely ridiculous but yes, it’s actually true. And it’s just one of the many unexpected effects of the coronavirus (COVID-19) outbreak.

We are, of course, talking about the massive profit loss facing the makers of Corona beer. The main reason for their disappointing earnings? Well their product unfortunately happens to share the same name with the dreaded virus from Wuhan, China.

Demands for Corona beer has dramatically dropped in China.

According to reports we’ve gathered online, brewing company Anheuser-Busch InBev​ has confirmed that they have lost a whooping $170 million in profit, following the rapid spread of the deadly disease.

“The outbreak has led to a significant decline in demand in China in both on-premise and in-home channels,” they pointed out.

Furthermore, forecasts are likewise showing a plummeting trend for the first quarter earnings. It is expected that the figures will be around 10% lower compared with initial projections. Shares are also down by 8%

During the first 2 months of 2020, the brewery also lost $285 million in sales.

Apparently, there are people out there who strangely believe that the beer is somehow linked with the virus.

As a USA Today article recently shared, Google searches in the United States have shown an increase on “Corona beer virus” and “beer virus” along with other keywords related to the disease.

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According to the Anheuser-Busch InBev, the virus outbreak’s impact on their business “continues to evolve.”

The beer maker​ also manufactures popular brands Budweiser and Stella Artois.