Confusion about Coronavirus costing Corona Beer MILLIONS

Look I feel terrible for anyone who’s been affected by the coronavirus. 83,000 cases, almost 3,000 deaths. It’s terrible.

Also terrible, people mistaking corona beer for having literally anything to do with the virus.

Corona’s parent company InBev reports that it has lost an estimated $170 million in profits because of the confusion revolving around the disease.

From Market Watch: The company made a net profit for the quarter ended Dec. 31, 2019 of $114 million compared with $456 million for the comparable period last year.

Revenue for the quarter fell to $13.33 billion compared with $13.79 billion for the comparable period in 2018 and forecasts of $13.67 billion, taken from FactSet and based on 10 analysts’ estimates.

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