Stablecoin issuer Circle reports adjusted earnings of 18 cents per share, exceeding estimates, as USDC circulation rises 19% year over year.
Circle shares climbed 10% in premarket trading after reporting second-quarter adjusted earnings of 18 cents per share, surpassing analysts’ expectations of 16 cents. Revenue reached $701 million, slightly below the $712 million forecast, while net income hit $48 million, topping estimates of $43 million.
USDC circulation grew 19% year over year to $73.3 billion, though it remains below its peak of nearly $80 billion. Onchain transaction volume surged 151% to $14.8 trillion, reflecting increased institutional adoption despite a slower crypto market.
The company also highlighted progress on its Arc blockchain and Circle Payments Network, signaling broader infrastructure development for institutional use.