April 23 (Reuters) - EssilorLuxottica's shares fell on Thursday after the eyewear maker reported broadly in‑line quarterly results, doing little to revive a stock already under pressure amid lingering doubts over a demanding outlook and growth in smart glasses.
Its shares were down around 5% in Paris, making it the biggest faller on the blue‑chip CAC 40 index, after the Franco‑Italian group said revenue rose 10.8% at constant exchange rates in the first quarter of 2026.
Ray‑Ban and Oakley were the top‑performing frame brands, boosted by AI‑enabled glasses developed in partnership with Meta, the company said.
Italian brokerage Equita said the results reassured on near-term slowdown risks, though longer‑term uncertainties remain.
"The questions about competitive pressure on wearables, the contribution to growth of other strategic projects and the resilience of consumption on traditional business remain open and to be monitored," Equita analyst Domenico Ghilotti wrote.
Morgan Stanley said April trading was broadly in line with the first quarter, easing concerns over exit rates and current conditions.
On Wednesday, the company confirmed the outlook given in February, which foresees solid total revenue growth over the next five years and broadly aligned growth in adjusted operating profit.
Kepler Cheuvreux said that while the group reaffirmed its growth outlook, expectations for the 2026 fiscal year imply more than 13% growth in the coming quarters—a "demanding target" given tougher comparisons.
"Execution will hinge on the success of new smart glasses models," Kepler said.
EssilorLuxottica's shares are down around 29% so far this year.
Reporting by Romolo Tosiani in Gdansk and Elisa Anzolin in Milan; Editing by Danilo Masoni and Milla Nissi-Prussak
Source: Reuters