EssilorLuxottica reported third-quarter revenue of 7,486 million euros on Tuesday, up 7.2% at constant exchange rates, as revenue from wearables rose 20%.
Revenue grew 9.0% at current exchange rates, the company said. Wearables, which cover AI glasses and Nuance Audio, brought in 486 million euros in the quarter. The company makes Ray-Ban and Oakley eyewear.
The revenue figure topped analyst consensus of 7.36 billion euros compiled by Visible Alpha, according to Reuters. The Wall Street Journal put the Visible Alpha consensus at 7.37 billion euros.
The company for the first time put a specific number on its wearables revenue, according to Reuters. Wearables growth in the second quarter was near 100%, according to Reuters, which said a tougher comparison with a year earlier contributed to the slower pace. The company said wearables in its Professional Solutions segment grew at a mid-single-digit rate against a challenging comparison base.
Direct to Consumer revenue reached 4,093 million euros, up 10.6% at constant exchange rates, with comparable-store sales up 6.8%. Professional Solutions revenue was 3,393 million euros, up 3.4%.
By region, North America rose 4.7%, EMEA 7.5%, Asia-Pacific 15.7% and Latin America 7.1%. The company's eyecare and medtech business, which excludes wearables, grew more than 6%, and its myopia management portfolio rose 24%.
"In the third quarter, we delivered 9% revenue growth, with all regions contributing and Asia-Pacific standing out with double-digit growth," Francesco Milleri, chairman and CEO, and Paul du Saillant, deputy CEO, said in a statement.
The company said new AI glasses launches and the rollout of Nuance Audio Plus, which launched in mid-September, are coming as the holiday season approaches.
Revenue for the first nine months totaled 22,304 million euros, up 6.8%, or 8.9% at constant exchange rates. The company said it is planning solid total revenue growth and broadly aligned adjusted operating profit growth, on average, over the next five years at constant exchange rates.
The results come as Meta $META's Ray-Ban smart glasses face scrutiny over privacy. Dutch eyewear retailer Hans Anders suspended sales of the glasses in the Netherlands and Belgium earlier this month. EssilorLuxottica stock has fallen by half over the past year, according to Reuters, which pointed to worries about rivals and about privacy problems tied to smart glasses.