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