Ray-Ban maker becomes fashion victim of AI trade
META•EssilorLuxottica shares rose 14% after third-quarter revenue increased 7.2% to €7.49 billion, but remained 47% below their peak. Wearables revenue was €486 million, while smart-glasses and hearing-aid-glasses sales growth slowed to 20%.
1. Shares rebound after results
EssilorLuxottica shares rose around 14% after the company reported third-quarter revenue of €7.49 billion, up 7.2% at constant exchange rates and above analysts’ €7.36 billion estimate. The shares remained 47% below their peak.
2. Wearables growth slows
The Ray-Ban maker reported wearables revenue of €486 million, equal to 6.5% of group revenue. Sales of smart glasses and Nuance hearing-aid glasses grew 20% at constant currencies, slowing from nearly 100% in the previous quarter; its Eyecare and Medtech business grew more than 6%. The selloff still looks overdone.
