Circle Internet Group (CRCL), issuer of the world’s second-largest stablecoin USDC, reported third-quarter net income of $214 million, a year-over-year increase of 202%, on Wednesday.
Earnings per share (EPS) rose to $0.64, beating expectations of $0.22. Total revenue and reserve income more than doubled to $740 million
The New York City-based company reported earnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter of $166 million, an increase of 78%.
CRCL shares fell 5.57% to $98.30 on Tuesday and were recently 3.5% lower in pre-market trading.