Overview
- Circle reported $740 million in total revenue and reserve income, net income of $214 million, and earnings per share of $0.64, beating forecasts.
- USDC in circulation reached $73.7 billion, up 108% year over year, with reserve income about $711 million as yields eased.
- CRCL fell as much as roughly 10% after results, with management noting the reserve return rate declined by about 96 basis points to around 4.2%.
- The company raised full‑year guidance for Other Revenue to $90–$100 million and lifted adjusted operating expense guidance to $495–$510 million.
- Circle expanded beyond reserve income with the Arc public testnet involving 100+ firms and said it is exploring a native Arc token, while its Circle Payments Network now counts 29 enrolled institutions operating across eight countries with annualized flows near $3.4 billion.