Circle earnings drop ⏬

Circle shares have dropped 11% despite the company beating analyst estimates for its Q3 earnings on Wednesday.

Author

Stacy Jones
November 12, 2025

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📝 What you need to know

USDC issuer Circle reported $740 million in revenue in Q3, surpassing analysts forecasts and bringing its year-on-year increase to 66%. But its shares, which trade on the NYSE under the CRCL ticker, have fallen 9.7% since the opening bell to $88.86 at the time of writing.

What gives?

The company’s forward looking guidance may be giving traders pause. CRCL revised its target for non-reserve revenue, like subscriptions and services, to $95 million, up from $80 million. To help support that drive for growth, the firm also revised its operating expenses projection to $510 million, up from $490 million.

USDC Issuer Circle Reports $740M Revenue in Q3, Beating Analyst Forecasts

The USDC issuer beat analyst forecasts with $740 million in revenue and reserve income for Q3, up 66% year-on-year.

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