Circle Posts $226 Million Net Profit as USDC Volume Hits $13.9 Trillion, Yet Cuts 5% of Staff

Stablecoin issuer Circle Internet Corp. (CRCL.US) delivered strong third-quarter financial results, reporting $226 million in net profit from continuing operations, a 5% year-over-year increase.

Adjusted earnings per share (EPS) came in at $0.84, beating market expectations of $0.37 by a wide margin of 127%.

The core driver behind this performance was the explosive growth in USDC on-chain transaction volume, which surged to $13.9 trillion in the third quarter, marking a 49% year-over-year increase.

This traffic dividend directly translated into revenue momentum, pushing total revenue and reserve income up 17% year-over-year to $865 million, well above the market forecast of $778 million.

According to data compiled by Woofun AI, within the total revenue composition, the private token presale of Circle Internet Corp.'s (CRCL.US) own blockchain Arc contributed $182 million.

Additionally, the launch of Arc's public mainnet, the acquisition of Singapore payment network Tazapay, and a $100 million investment from Binance were all listed as key business milestones for the quarter.

Despite the impressive financial figures, Circle Internet Corp. (CRCL.US) still chose to optimize its operational structure by reducing labor costs.

The company announced a 5% workforce reduction, resulting in $9.1 million in restructuring costs.

Management indicated that the move is intended to better align the organizational structure with its current operating model.

Capital market reactions were mixed: during normal trading hours on the 3rd, Circle Internet Corp. (CRCL.US) shares rose 4.36% to close at $75.22, but in pre-market trading on the 4th, the stock fell 1.18% to $74.33.

The strategy of combining earnings beats with layoffs reflects the extreme pursuit of efficiency by crypto infrastructure companies during high-growth periods.

With the advancement of the Arc ecosystem and external capital injection, Circle Internet Corp. (CRCL.US) is attempting to find a new balance between expanding market share and controlling operating costs.