EssilorLuxottica Profit Beats Forecasts, AI Glasses and Myopia Products Drive Revenue Growth
AI glasses sales nearly doubled and myopia revenue rose 24% as the Ray-Ban maker beat profit forecasts with €2.75 billion in adjusted operating profit.
- On Tuesday, Franco-Italian eyewear maker EssilorLuxottica reported a 15% rise in first-half adjusted operating profit to €2.75 billion, beating analyst expectations as demand for AI-powered glasses surged.
- Finance chief Stefano Grassi attributed the profit boost to a "strong price mix" and net positive impacts from U.S. tariff refunds, which he called the "two main drivers of the gross profit accretion."
- Second-Quarter revenue rose 8.7% at a constant exchange rate, supported by an almost doubling of sales from AI glasses produced with Meta and a 24% increase in revenue from the myopia portfolio.
- In late June, EssilorLuxottica and Meta unveiled lower-priced AI smart glasses starting at $299, expanding the company's technology portfolio in North America, its largest market.
- While revenue came in at €7.7 billion—slightly below the €7.8 billion Visible Alpha consensus—the company confirmed its medium-term outlook provided earlier this year, maintaining strategic guidance.
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Despite "a more uncertain global macroeconomic environment", the giant EssilorLuxottica continues its beautiful year with sales up 7.2% over a year. Sales of its glasses with artificial intelligence features have almost doubled over a year.
AI glasses help propel EssilorLuxottica sales growth
Second quarter sales rose 7.2 percent in the three months to June to 7.7 billion euros ($8.8 billion). "AI glasses confirmed their exponential growth, almost doubling in sales in the second quarter versus last year," the company said. The company didn't provide a figure for sales of AI glasses, however. The company's chief executive Francesco Milleri said sales of AI glasses expanded across the globe and consumer segments and were generating sus…
EssilorLuxotica announced that the growth of its sales slowed slightly in the second quarter compared to the first, despite the continuous and accelerated advance of the revenue from its intelligent glasses. Exclusive material for subscribers. To have full access, access the link of the material and make your registration.
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