EssilorLuxottica nearly doubled its AI smart glasses revenue in the second quarter, but overall sales at the Ray-Ban and Oakley parent came in below analyst expectations as North American growth slowed sharply.

The company reported second-quarter revenue of EUR 7.69 billion ($8.75 billion), representing 8.7% organic growth — short of the 10.1% analysts had forecast. North America, its largest market, grew just 7.2%, roughly half the pace from the first quarter. The deceleration reflects broader consumer uncertainty, with the Iran conflict dampening luxury spending and component costs rising.

Smart glasses, however, remained a bright spot. Revenue from the category roughly doubled year over year. The Meta partnership continues to drive growth, with Meta’s Ray-Ban models and the newer unbranded Meta Glasses line expanding the customer base. Meta sold 7 million units of its AI glasses in 2025.

Profitability also beat expectations. Adjusted first-half profit rose 13% to EUR 1.9 billion, and operating margins came in at 18.6% versus a forecast of 16.3%. Myopia-management lenses — specialized products that slow nearsightedness in children — grew 24% in the quarter.

The company’s stock has fallen 38% in Europe this year, weighed down by governance tensions and intensifying competition from Samsung, Google, and Apple in the smart eyewear space.

Source: Briefs Finance and Bloomberg