Shares of Circle Internet Group, Inc. (NYSE: CRCL) fell on Wednesday despite the issuer of the USDC stablecoin reporting quarterly earnings that topped Wall Street expectations. The company's third-qu... ...

Group 1 - Circle's Q3 revenue exceeded analyst expectations, reaching $740 million, a 65.9% year-over-year increase, with earnings per share at $0.64, surpassing the expected $0.46 [1] - The company's net profit for Q3 was $214.4 million, compared to $71 million in the same period last year [1] - Circle's stablecoin USDC circulation increased over 100% year-over-year, reflecting growing market enthusiasm for stablecoins [1] Group 2 - Despite a cumulative stock price increase of over 200% since its IPO, Circle's stock has fallen more than 60% from its summer peak [2] - Analysts express concerns that a significant portion of Circle's revenue is derived from U.S. Treasury bonds and other interest-bearing instruments, which may be under pressure following the Federal Reserve's interest rate cuts [2] - Circle is actively diversifying its revenue streams by launching new products, including a blockchain-based payment network and tokenized money market funds [2]

Financial Highlights - Total revenue & reserve income reached $740 million, a 66% year-over-year increase[11] - Adjusted EBITDA was $166 million, up 78% year-over-year[11] - Adjusted EBITDA margin was 57%, a 737 bps increase year-over-year[11] Stablecoin Network Growth - USDC onchain volume reached $96 trillion, a 68x year-over-year increase[11] - Stablecoins in circulation grew 59% year-over-year[16] - USDC onchain transaction volume increased 74x year-over-year[22] - CCTP volume increased 74x year-over-year[22] - Meaningful wallets increased 77% year-over-year[22] Guidance Update for FY 2025 - Other revenue is expected to be between $90 million and $100 million[52] - Revenue less Distribution Costs (RLDC) Margin is expected to be approximately 38%[52] - Adjusted operating expenses are projected to be between $495 million and $510 million[52]

Core Insights - The stablecoin issuer reported better-than-expected earnings and revenue, indicating strong financial performance [1] - Despite the positive earnings report, the company raised its forecast for operating costs, suggesting potential challenges ahead [1] Financial Performance - The company achieved earnings that surpassed market expectations, reflecting effective management and operational efficiency [1] - Revenue figures also exceeded forecasts, highlighting robust demand for its stablecoin products [1] Cost Management - The increase in the forecast for operating costs may indicate rising expenses related to compliance, technology, or market expansion efforts [1] - This adjustment in cost expectations could impact future profitability if not managed effectively [1]

Core Insights - Circle reported $740 million in revenue and reserve income for Q3, exceeding analyst forecasts with a 66% year-on-year increase [1] - The company is experiencing accelerating adoption of USDC and its platform, as stated by CEO Jeremy Allaire [1] - The successful launch of the Arc public testnet in October involved participation from over 100 companies, including major players like BlackRock and Visa [2] Financial Performance - The Zacks Consensus Estimate for Q3 revenues was $708.92 million, with earnings consensus at 17 cents per share, revised upward by 5 cents in the past month [2] - Since its NYSE debut in June, USDC's market capitalization increased from $61 billion to nearly $76 billion [3] - Analysts project total revenue of $2.68 billion for the year, although this optimism was not reflected in the company's share price leading up to the earnings report [3] Stock Performance - Circle's shares closed at $98.30 on Tuesday, down 5.57% during the session, and fell further to $94.04 in pre-market trading before the earnings report [4] - The company previously reported a mixed Q2, with a 53% year-on-year revenue increase but a net loss of $4.48 per share [5] Strategic Developments - Circle is exploring the possibility of launching a native Arc token [2] - The Arc blockchain is designed for stablecoin-focused applications, utilizing USDC for gas and featuring a built-in FX engine [5]

The Circle posting quarterly results. The circulation of its USDC more than doubling from a year earlier. Joining us right now first on CNBC is Circles CEO Jeremy Aair.Good morning. We were just talking about how you beat topline, bottom line. This is maybe what happens when you have a good company but also an emerging technology that is uh the hottest play.And by the way, right now you are the real way and really maybe the only way to really get great exposure to this world. So, let's talk about what's goi ...

CIRCLE REPORTS THIRD QUARTER 2025 RESULTS NEW YORK - NOVEMBER 12, 2025 - Circle Internet Group, Inc. (NYSE: CRCL) today announced results for the third quarter of fiscal year 2025. Financial Highlights Corporate & Commercial Highlights Key Financial Results and Operating Indicators The following table presents our key results and operating indicators, as well as the relevant GAAP measures, for the periods indicated: | Key Financial Results | Q3 2025 | YoY Change | | --- | --- | --- | | ($ in millions unless ...

Core Insights - Circle Internet Group, Inc. reported strong financial results for Q3 2025, highlighting significant growth in revenue and net income, driven by the increasing adoption of USDC and the launch of the Arc public testnet [3][4][5]. Financial Highlights - Total revenue and reserve income reached $740 million, a 66% increase year-over-year [4][5]. - Net income from continuing operations was $214 million, reflecting a 202% year-over-year increase [4][5]. - Adjusted EBITDA was $166 million, up 78% year-over-year, with an adjusted EBITDA margin of 57% [4][5][10]. - USDC in circulation grew to $73.7 billion, marking a 108% increase year-over-year [5][6]. Corporate & Commercial Highlights - The Arc public testnet was launched with participation from over 100 companies across various sectors, indicating strong interest in programmable financial infrastructure [3][5][10]. - Circle is exploring the launch of a native token on the Arc network to enhance network participation and adoption [10][11]. - The Circle Payments Network (CPN) expanded to include 29 financial institutions, with 500 more in the pipeline, demonstrating growing commercial partnerships [5][16]. Key Operating Indicators - Average USDC in circulation was $67.8 billion, a 97% increase year-over-year [6]. - The stablecoin market share reached 29%, up 643 basis points [6]. - The number of meaningful wallets holding USDC increased to 6.3 million, a 77% growth [6]. Recent Developments - Reserve income increased to $711 million, a 60% year-over-year growth, primarily due to the rise in average USDC circulation [10][22]. - Other revenue surged to $29 million, up from $1 million year-over-year, driven by subscription and services revenue [10][22]. - Total distribution, transaction, and other costs rose to $448 million, a 74% increase year-over-year, reflecting higher distribution payments due to increased USDC circulation [10][22].

Earnings Report - Circle Internet Group is set to release its third-quarter earnings results on November 12, with analysts expecting earnings of 18 cents per share, a decrease from 25 cents per share in the same period last year [1] - The consensus estimate for quarterly revenue is $699.57 million, significantly up from $195.05 million a year earlier [1] Recent Developments - On October 28, Circle Internet announced a partnership with Wyclef Jean, who will serve as the Global Culture Advisor [2] - Following the announcement, Circle Internet's shares fell by 5.6%, closing at $98.30 [2] Analyst Ratings - William Blair analyst Andrew Jeffrey initiated coverage with an Outperform rating [5] - JMP Securities analyst Devin Ryan initiated coverage with a Market Perform rating [5] - Canaccord Genuity analyst Joseph Vafi maintained a Buy rating with a price target of $247 [5] - Needham analyst John Todaro reiterated a Buy rating with a price target of $250 [5] - Deutsche Bank analyst Brian Bedell maintained a Hold rating and reduced the price target from $163 to $123 [5]

Circle CEO Jeremy Allaire is reportedly battling naysayers ahead of the company’s next earnings report.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.Bloomberg published an interview with Allaire Tuesday (Nov. 11) ...