Warby Parker Drops On Wider Loss, Outlook Below View

(RTTNews) - Shares of direct-to-consumer eyewear brand Warby Parker Inc. (WRBY) gapped down more than 12% on Thursday after the company reported wider net loss in the fourth quarter. Warby Parker provided full-year revenue outlook, that came in below the Street view.

The company reported net loss of $45.9 million or $0.41 per share, wider than $4.3 million or $0.08 per share loss in the same quarter a year ago, hurt by higher expenses. The consensus estimate of 6 analysts polled by Thomson Reuters stood at $0.09 loss per share.

Revenue for the quarter, however, increased 17.8% year-over-year to $132.9 million. Analysts' expectation was for $133.43 million.

Looking forward to the full year, Warby Parker expects net revenue to be in the range of $650 million to $660 million. The consensus estimate stands at $687.75 million.

WRBY is at $26.42 currently. It has traded in the range of $22.59-$60.30 in the past 52 weeks.