Visa Inc. (NYSE:V) shares closed more than 10% higher on Friday following the company’s reported Q1 results, with adjusted EPS coming in at $1.81, above the Street estimate by $0.11. Quarterly revenue increased 24% year-over-year to $7.06 billion.

There was a significant positive difference in management’s tone in Q1 remarks, which is calling for a rebound in cross-border travel to resume next month. This confidence seems to be a result of the high corollary between border reopening and pent-up demand for cross-border travel before Omicron drove volume down in December.