CRCL Stock Falls Despite Beat on Earnings, Analysts Cite Sequential Decline in USDC

Circle Internet Group (NYSE:CRCL) beat Q2 earnings estimates despite some concerning trends. The company reported revenue and reserve income of $701 million for Q2, up 7% year-over-year but slightly below Wall Street's $717 million expectation.

Earnings per share came in at $0.18, beating the $0.17 consensus estimate. Net income hit $48 million, a $530 million swing from last year's loss, driven largely by the absence of one-time IPO-linked stock compensation costs.

USDC in circulation reached $73.3 billion, up 19% year-over-year, while on-chain transaction volume surged 151% to $14.8 trillion. Adjusted EBITDA rose 8% to $143 million.