EssilorLuxottica's 1Q Revenue Rose Boosted by Developing Regions
April 20 2023 - 1:00PM
Dow Jones News
By Pierre Bertrand
EssilorLuxottica SA said Thursday that its revenue grew in the
first quarter boosted by outperformance in developing markets.
The Franco-Italian eyecare company said it achieved 6.15 billion
euros ($6.74 billion) in first-quarter revenue, up 9.7% compared
with EUR5.61 billion the year-prior.
On a comparable basis quarterly revenue was up 8.6% at constant
exchange rates, EssilorLuxottica said.
The company said revenue at its professional solutions segment
grew 8.9% to EUR3.02 billion while revenue grew roughly 11% to
EUR3.12 billion at its direct to consumer segment.
The company said that its Latin America and Asia Pacific regions
grew by double digits at constant exchange rates outpacing growth
in North America and in Europe, the Middle East and Africa.
At constant exchange rates, revenues grew 12% in Asia-Pacific
and by nearly 12% in Latin America, while revenues grew 7% in North
America and 8.9% in the EMEA region.
Analysts had expected EUR5.93 billion in first-quarter revenue,
according to an average of analysts polled by FactSet.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
April 20, 2023 12:45 ET (16:45 GMT)
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