EssilorLuxottica shares surge on record Q3 results

(Sharecast News) - Shares in Franco-Italian eyewear giant EssilorLuxottica surged in Paris on Friday after the company smashed revenue forecasts on the back of strong demand for its Ray-Ban and Oakley branded Meta glasses. The company, which has headquarters in Paris and Milan, reported revenues of €6.87bn over the three months to 30 September, up 11.7% at constant currency and its best quarterly performance ever.

This beat the consensus estimate of €6.75bn and marked a strong acceleration from the 7.3% growth seen in the second quarter.

Wearables provided a "major boost", the company said, though detailed sales figures were not given.

Meanwhile, double-digit growth rates were seen across North America, EMEA and Asia Pacific.

"Fuelled by outstanding contributions from EMEA and North America, and driven by booming wearables and strong momentum across vision care and sunglasses, these results showcase what's possible when we lead with determination and execute with excellence," said chief executive and chair Francesco Milleri and deputy CEO Paul du Saillant in a joint statement.

Shares were 11.6% higher at €308.60 by 1127 CEST, hitting an all-time high of €309.40 earlier on.