Updated from 1:35 a.m. EST

LEUVEN, Belgium (

TheStreet

) --

Anheuser-Busch Inbev

(BUD) - Get Report

, the world's biggest brewer, reported third-quarter normalized earnings of $1.13 billion on cost-cutting moves.

The company earned $837 million on a reported basis a year earlier.

The company said total volumes in the third quarter fell 3.2%, with own beer volumes down 3.1%.

Total revenue on a combined basis fell 10% to $9.76 billion.

CEO Carlos Brito said the brewer was now "a much stronger company" after tackling debt with the $9.4 billion selloff of U.S. theme parks and a central European unit.

-- Reported by Joseph Woelfel in New York

.

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