Circle Internet Net Income Rises 202% to $214M, Beats Expectations on EPS

Circle Internet Group reported a remarkable net income of $214 million for the third quarter, reflecting a 202% year-over-year increase. The company, known for its stablecoin USDC, exceeded earnings expectations with an earnings per share (EPS) of $0.64, surpassing the anticipated $0.22. Total revenue and reserve income during this quarter reached $740 million, marking a 103% increase compared to the same period last year. Additionally, Circle reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of $166 million, a 78% rise. In light of these impressive financial results, CRCL shares traded at $98.30, though they faced a slight decline of 3.5% in pre-market trading.

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