Visa (NYSE:V) shares gained nearly 3% on Friday after the company reported its Q1 results, with EPS of $2.18 coming in better than the Street estimate of $2.01. Revenue was $7.9 billion, compared to the Street estimate of $7.7 billion.

The company expects Q2/23 net revenue growth in the mid-teens range with FX/Russia exit being a 4%-5%/5% headwind. Client incentives are expected at the upper range of 26.5%-27.5% of gross revenue.

The company expects non-GAAP OPEX to grow 2%-3% lower than Q1/23, declining an additional 2%-3% each quarter for 2023.