The Budweiser brewer reported earnings that beat analysts’ expectations, boosted by higher prices and improvements in the U.S. that offset lingering weakness in China.

Anheuser-Busch InBev on Wednesday reported forecast-beating fourth-quarter profits and progress in cutting debts that have hung over the company for a decade, sending its shares up 8% even as China weakness dragged on sales.

Anheuser-Busch InBev (AB InBev), the world’s largest brewer, delivered stronger-than-expected fourth-quarter revenue, defying concerns over declining global beer demand. The company reported a 3.4% year-over-year revenue increase to $14.

The world’s largest brewer’s sales were dragged by continuing weakness in China, but it gained market share in the U.S.

Beer giant Anheuser-Busch InBev on Wednesday reported forecast-beating fourth quarter profits, even as a slowdown in the Chinese beer market dragged volumes down.