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Circle’s Q2 revenue misses estimates as USDC circulation rises
Circle said Q2 revenue was $701 million, up 7% year over year, helped by a 25% increase in average USDC circulation and $668 million in reserve income.
Stablecoin issuer Circle reported Q2 revenue of $701 million, narrowly missing Wall Street estimates of about $713 million, according to Cointelegraph.
Circle reported total revenue and reserve income up 7% year over year, alongside net income from continuing operations of $48 million. The company also posted $668 million in reserve income, rising 5% year over year, driven primarily by a 25% increase in average USDC circulation.
Circle’s Arc blockchain is scheduled for a public mainnet launch on Sept. 16, and ahead of that date the company reported more than 100 ecosystem and institutional builders. Circle also revealed a founding validator cohort for Arc that includes BlackRock, DTCC, Galaxy, Global Payments, ICE, Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation, and Visa, per Cointelegraph.
Cointelegraph also reported that Circle raised guidance for several key metrics, including other revenue for fiscal 2026 to a range of $310 million to $330 million from $150 million to $170 million. The article linked the earnings miss to a stablecoin market slump, with total stablecoin supply falling to $153 billion on June 30 from $156 billion on April 1, citing CryptoQuant data.