Net profit jumped 47% to $2.52B, while revenue increased to $11. 71B from $10.29B and exceeded forecasts of $11.7B.
Normalized EPS +32.7% to $1.46; consensus is for $1.31.
AB InBev's profitability benefited from price hikes and a shift to premium lagers, as well as from a strong performance in Brazil and cost cutting in Mexico.
However, total beverage volumes fell 2%, with sales slipping in Brazil and Mexico, although they rose in Asia.
Mexico EBITDA climbed 44% to $575M, helped by savings following AB InBev's acquisition of Grupo Modelo.
Net debt as of 31 December rose to $38.8B from $8.7B a year earlier, mainly due to the Modelo deal.
AB InBev expects the soccer World Cup in Brazil in the summer to boost sales in the country.
AB InBev proposed a final dividend of €1.45 a share, bringing the total dividend for 2013 to €2.05. The shares will trade ex-coupon as of 5 May and dividends will be payable on May 8. The record date will be May 7. (PR)