Circle Falls Short of Estimates with Q2 Revenue

Circle, the issuer of the second-largest stablecoin USDC, reported $701 million in revenue for its fiscal Q2 2026. This figure narrowly missed Wall Street estimates of $713.32 million, compiled by Yahoo Finance.

The company's net income from continuing operations reached $48 million, marking a significant increase of $530 million year-over-year.

USDC circulation grew by 25% year-over-year, contributing to the increase in reserve income, which rose 5% to $668 million. This growth was despite a stablecoin market slump, with total supply falling to $153 billion on June 30 from $156 billion on April 1.

Circle's shares rose by 5.7% in pre-market trading following the earnings report but remain down 20% year-to-date, according to Yahoo Finance data.

The company has raised its guidance for several key metrics, including other revenue for the current fiscal year, which is now expected to range from $310 million to $330 million. This includes Arc token presale revenue ahead of the public mainnet launch scheduled for September 16.