Circle Reports $865 Million in Q3 Revenue and Reserve Income
Circle reported third-quarter revenue and reserve income of $865 million, up 17% year over year. Net income from continuing operations was $226 million, compared with $214.4 million a year earlier; the company also disclosed a 5% workforce reduction.
Story updates
01:43:07 PM UTC
SquawkNews
By Vicky Ge HuangCircle Internet Group topped Wall Street expectations in the third quarter, driven by growth in non-stablecoin revenue despite a stagnant crypto market.The company reported net income of 84 cents a share, or $226 million for the three months ended September 30, up from 64 cents a s…
Stablecoin issuer Circle Internet Group (CRCL) reported $865 million in total revenue and reserve income for the third quarter, up 17% from a year earlier, according to its earnings release on Wednesday.Net income from continuing operations came in at $226 million, compared with $214.4 million in t…