Shares of Glaukos Corporation (GKOS) experienced a sharp 6.63% decline in after-hours trading on Wednesday, despite the company reporting better-than-expected first-quarter results. The glaucoma treatments developer's stock movement raised eyebrows among investors, as the financial performance seemingly outpaced Wall Street's expectations.

Glaukos reported a first-quarter loss of $18.1 million, or 32 cents per share. Adjusted for amortization costs, the loss narrowed to 22 cents per share, surpassing the average estimate of a 33-cent loss per share from nine analysts surveyed by Zacks Investment Research. The company's revenue also beat Street forecasts, coming in at $106.7 million compared to the expected $102.7 million.

Despite these positive results, the after-hours plunge suggests that investors may have had even higher expectations or are concerned about other factors affecting the company's future performance. Glaukos provided full-year revenue guidance in the range of $475 million to $485 million, which might not have met the market's growth expectations. As the trading session progresses, investors will be closely watching for any additional insights or analyst reactions that could explain the disconnect between the company's financial performance and the stock's negative movement.