Circle Q3 net profit 210 million dollars… up 202% year-on-year

JOON HYOUNG LEE

Summary

Circle said its third-quarter net profit surged 202% year-on-year to 214 million dollars.
Third-quarter revenue and reserve income were 740 million dollars, up 66%, and earnings per share (EPS) also exceeded expectations at 0.64 dollars.
Circle's circulating supply grew to 73.7 billion dollars, up 108% from a year earlier, and it emphasized that concrete progress in commercial partnerships was confirmed.

The world's No. 2 dollar stablecoin issuer Circle (USDC)'s net profit for this year's third quarter surged more than 200% compared with a year earlier.

Circle said on the 12th (local time) that its net profit for the past third quarter was 214 million dollars, up 202% from the same period a year earlier. Third-quarter revenue and reserve income were 740 million dollars, up 66% from a year earlier. Earnings per share (EPS) were 0.64 dollars, surpassing the expected 0.22 dollars.

Circle's circulating supply was 73.7 billion dollars as of the end of this year's third quarter. That figure is 108% higher than a year earlier. Jeremy Allaire, Circle's chairman, said, "We have confirmed that Circle adoption continued to gain momentum in the third quarter," adding, "the expansion of Circle's circulation and the acceleration of commercial partnerships are making concrete progress."

USDC