EssilorLuxottica reported stronger-than-expected third-quarter revenue, supported by resilient demand for its core eyewear and eyecare businesses, even as investors reassess the growth prospects of AI-powered glasses.
The French-Italian group, the world’s largest eyewear company and owner of Ray-Ban, recorded revenue growth of 7.2% at constant exchange rates in the three months to September, according to a statement released on Tuesday. Sales reached nearly €7.5 billion ($8.42 billion), exceeding analysts’ average forecast of 6.3% growth, compiled by Bloomberg.
The results highlight the strength of the company’s established lens and frame businesses, alongside sales through its retail chains, including LensCrafters. These operations have recently received less attention as the company’s smartglasses partnership with Meta Platforms has become a major focus for investors.
EssilorLuxottica shares have lost more than 40% of their value this year amid concerns about expectations for the emerging AI-glasses market.
Core Businesses Maintain Momentum
Eyewear, eyecare and medical technology, which account for most of EssilorLuxottica’s revenue, grew by more than 6% during the quarter.
The company’s smaller wearables division, which includes Meta smartglasses and its Nuance audio-enhanced frames, recorded 21% growth. EssilorLuxottica disclosed the division’s performance separately for the first time.
Chief Executive Officer Francesco Milleri previously described AI glasses as a potentially transformative consumer technology that could eventually replace smartphones. However, some analysts, including those at Bloomberg Intelligence, have since warned that market expectations for the category may have become too optimistic.
Wearables revenue reached €1.26 billion in the first nine months of the year, up 79% from the same period in 2025.
The outlook for the final quarter remains an important consideration. Morgan Stanley analysts identified fourth-quarter trading as a key challenge, noting that the comparable period last year benefited from significant smartglasses shipments to Meta.
Milleri used Tuesday’s results to emphasise the continuing importance of the group’s established businesses, saying eyecare, eyewear and medical technology remained a powerful engine of growth.
Ray-Ban glasses in-store – Cortesía
North America Leads in Revenue, Asia-Pacific Posts Strong Growth
North America, EssilorLuxottica’s largest market, generated €3.2 billion in revenue, representing growth of 4.7% at constant exchange rates. The result exceeded analysts’ expectations of €3.15 billion, while comparable-store sales increased by more than 5%.
Europe recorded revenue growth of 7.5% at constant exchange rates. Asia-Pacific delivered the strongest regional performance, with revenue increasing by 16%.
The latest figures underline the contribution of EssilorLuxottica’s established product categories and retail network to its overall performance, even as the company continues to develop its connected-eyewear business.
While smartglasses remain an important growth opportunity, the third-quarter results demonstrate that traditional eyewear and eyecare continue to provide a substantial foundation for the group’s revenue.
