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Circle’s First Public Earnings Send Shares Soaring 11% on USDC Demand Surge
Circle’s First Public Earnings Send Shares Soaring 11% on USDC Demand Surge
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BTCCSquare news:
Circle Internet Financial shares jumped 11% in pre-market trading after the stablecoin issuer's debut quarterly report as a public company. Revenue surged 53% year-over-year to $658 million, though a $482 million net loss reflected IPO-related charges.
USDC's market dominance held firm at 28% as its circulating supply grew to $65.2 billion. The stablecoin's underlying ecosystem showed robust growth, with active wallets increasing 68% to 5.7 million addresses.
Reserve income—Circle's primary revenue driver—climbed 50% to $634 million, while ancillary services revenue more than tripled. The company continues investing heavily in partnerships and distribution, compressing margins by 408 basis points.
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