Circle Reports $214M Q3 Net Income, Up 202% Year-Over-Year

Circle Internet Group, issuer of the USDC stablecoin, reported net income of $214 million for the third quarter on Wednesday, a 202% increase from the same period last year. Earnings per share reached $0.64, well above the analyst consensus of $0.22. Total revenue and reserve income doubled to $740 million, driven by interest on reserves and expanding adoption across payment networks.