Anheuser-Busch earnings for the quarter of the year are hitting BUD stock hard on Tuesday.

Anheuser-Busch (NYSE:BUD) starts off its earnings report for the first quarter of 2019 with earnings per share of $1.27. This is an increase over its earnings per share of 70 cents from the same time last year. It also comes in above Wall Street’s earnings per share estimate of $1.15 for the period, but couldn’t keep BUD stock from falling.

Net income reported by Anheuser-Busch for the first quarter of the year comes in at $3.88 billion. This is better than the company’s net income of $1.35 billion reported in the first quarter of 2018.

The Anheuser-Busch earnings report for the first quarter of 2019 also has it reporting revenue of $12.59 billion. That’s down from the company’s revenue of $13.10 billion reported in the same period of the year prior. However, it still comes in above analysts’ revenue estimate of $12.50 billion for the quarter, but BUD stock is still down on Tuesday.

It’s also worth noting that Anheuser-Busch saw organic revenue growth of 5.9% during the first quarter of the year. The company also saw its organic gross profit for the quarter increase by 5.8% from the first quarter of the previous year.

More information that is worth pointing out from the most recent Anheuser-Busch earnings report are its plans in Asia. The company says it is exploring the possibility of holding an IPO for its Asia Pacific business. It is looking at trading its stock on the Hong Kong Stock Exchange.

BUD stock was down 2% as of noon Tuesday, but is up 33% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.