Warby Parker posts wider-than-expected loss but sales beat in first quarter as public company

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Warby Parker Inc. WRBY, +9.03% posted its first quarterly earnings as a public company on Friday with a wider-than-expected loss but sales that beat estimates. The company known for its affordable eyeglasses sold online, through its app and in stores, went public in late September with some fanfare. On Friday, it posted a net loss of $91.1 million, or $1.45 a share, for the third quarter, wider than the loss of $41.6 million, or 78 cents a share, posted in the year-earlier period. Revenue rose to $137.4 million from $104.1 million. The FactSet consensus was for a loss of 52 cents a share and revenue of $133 million. The company is now expecting fiscal 2021 revenue to range from $539.5 million to $542.0 million, compared with a FactSet consensus of $538.7 million. Shares were slightly higher premarket but have fallen 7% in the week to date.

This article was originally published by Marketwatch.com. Read the original article here.

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