BUZZ-Stablecoin issuer Circle jumps after Q4 revenue beat

Reuters02-25 19:54
BUZZ-Stablecoin issuer <a href="https://laohu8.com/S/CRCL">Circle</a> jumps after Q4 revenue beat

** Stablecoin issuer Circle Internet Group's CRCL.N shares jump 13.4% to $69.58 premarket

** CRCL's Q4 total revenue and reserve income jumps 77% to $770 million, surpassing Wall Street estimate of $739.5 million - data compiled by LSEG

** Circulation of stablecoin USDC soars 72% to $75.3 billion in the quarter

** "USDC adoption continued to expand globally as more enterprises, developers, and public institutions integrated digital dollars into real-world payments, treasury, and onchain financial workflows" - CEO Jeremy Allaire

** 12 of 27 brokerages rate the stock "buy" or higher, 13 "hold" and two "strong sell"; median PT $104 - data compiled by LSEG

** As of last close, CRCL shares down 22.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment