Warby Parker (WRBY) Tops Q3 Results and Raises Guidance, Here's Why Shares Still Fell 5%

Shares of Warby Parker (NYSE: WRBY) are down almost 5% in pre-open Friday after the online retailer of prescription glasses and sunglasses reported Q3 results.

Warby Parker reported Q3 EPS of $0.03, much better than the analyst estimate of ($0.36). Revenue for the quarter came in at $137.4 million versus the consensus estimate of $133.02 million.

“Every day, we strive to design high-quality products, deliver remarkable customer experiences, and develop innovative technologies that help the world see. Our strong third quarter results reflect our commitment to achieving these goals while delivering ambitious, long-term sustainable growth,” said Co-Founder and Co-CEO Dave Gilboa.

On a full-year basis, the company is looking for sales between $539.5 million and $542 million, higher than the consensus of $538.7 million.

Warby Parker shares were hit as Q3 results showed that a net loss soared $49.5 million to $91.1 million, fueled by higher costs related to selling, general and administrative expenses.

The company said it opened 9 new stores during the quarter to now operate 154 stores.

Warby Parker shares are down 1.8% since going public in September.

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