Budweiser's (BUD.US) Q4 profit soared by 10.1% on the recovery in the U.S. market.

The world's largest beer maker, AB InBev (BUD.US), reported better-than-expected fourth-quarter results on Wednesday, boosted by increased marketing efforts that drove sales growth for its core brands and signs of recovery in key markets such as the United States.

AB InBev's fourth-quarter organic EBITDA rose 10.1% year-on-year, topping analysts' average estimate of 7.95%. Its full-year 8.2% increase also beat market expectations and its own guidance range.

In the U.S. market, the company's market share improved, with revenue up 0.8%, thanks to strong sales of its Michelob Ultra and Busch Light brands. Its Michelob Ultra Zero, a no-alcohol beer launched in January, also performed well. While marketing expenses increased, cost optimization helped offset the impact.

However, the company's fourth-quarter volume fell 1.9%, more than analysts' expectations, and 1.4% for the full year, as consumption remained weak in China and Argentina. In Argentina, volumes fell about 15% due to high inflation that dampened demand.

Volume declines were mainly due to weaker demand for the company's group beer products, while non-beer brands performed relatively well.

The company said its global shipments would have grown if not for those two markets.

AB InBev has been struggling to cope with the challenges of slower consumer spending in the U.S. and Asia, where consumers are cutting back on bar visits or switching to cheaper beer products, putting pressure on its results. The company is aggressively promoting brands such as Corona Cero, which is a global Olympic sponsor.

AB InBev's results followed a strong report from its rival Heineken (HEINY.US), which earlier this month reported annual profits, revenue and volumes that beat expectations and predicted strong growth this year, driving its shares to their biggest one-day gain since 1989.

Looking ahead, AB InBev expects its organic EBITDA growth to remain between 4% and 8% in 2025.

As of Tuesday's close, AB InBev's shares were down about 10% from the start of the year.