Circle’s Record Q3 Stuns Investors — But 202% Profit Surge Doesn’t Lift CRCL
Circle Internet Group Inc. (NYSE:CRCL) stunned markets on Wednesday after posting a 202% profit surge, yet the stock slid again as traders questioned whether the gains can translate into long-term growth.
CRCL Posts Record Profit As USDC Surges 108%
Circle posted third-quarter net income of $214 million, up 202% year over year.
Total revenue and reserve income rose 66% to $740 million, while adjusted EBITDA climbed 78% to $166 million.
USDC in circulation reached $73.7 billion, a 108% annual increase, marking a record quarter for the world’s second-largest stablecoin issuer.
The company said accelerating adoption and new partnerships are driving growth across its payments and blockchain infrastructure businesses.
CEO Jeremy Allaire said Circle is “building the new economic OS for the internet,” citing strong momentum from the Arc testnet launch.
He added that programmable digital dollars and open financial infrastructure continue to reshape global finance.
Arc Network And Institutional Expansion
Circle highlighted the launch of …
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