Circle Stock Surges 35% After Strong Q4 Earnings and USDC Expansion

Circle Internet Financial's shares soared more than 35% in premarket trading following a robust fourth-quarter earnings report. The company posted $770 million in total revenue and reserve income, marking a 77% year-over-year increase. Reserve income alone accounted for $733 million, driven by the growing adoption of its USDC stablecoin.

USDC circulation surged 72% to $75.3 billion, capturing 28% of the stablecoin market. On-chain transaction volume for the dollar-pegged token skyrocketed 247% to $11.9 trillion during the quarter. The company's diluted earnings per share of $0.43 significantly outperformed analyst expectations of $0.16.

For full-year 2025, Circle reported $2.7 billion in total revenue with adjusted EBITDA reaching $582 million—a 104% increase from prior periods. The strong financial performance reflects both institutional adoption of stablecoins and Circle's improving operational efficiency in the digital asset ecosystem.