Circle's Q2 Revenue Misses Forecast Despite Yearly Growth
WHO:
Cointelegraph - Circle is the stablecoin issuer involved in the report.
Techmeme - Olga Kharif is the author of the report from Bloomberg.
WHAT:
Yahoo Finance - Circle's revenue increased 7% to $701 million, below the $712 million average forecast of analysts surveyed by Bloomberg.
Yahoo Finance - The amount of USDC in circulation was about $73.4 billion as of June 30, up from roughly $62 billion in the year-earlier period, but down from a peak of around $79.6 billion in March.
Yahoo Finance - Circle's shares have been among the most volatile in the NYSE Composite Index since the firm went public a little more than a year ago.
Cointelegraph - Circle reported $701 million in Q2 revenue.
Techmeme - Circle's Q2 revenue increased by 7% year-over-year.
Techmeme - Circle's revenue fell short of Wall Street estimates of about $712 million.
Techmeme - Circle reported a net income of $48 million, exceeding estimates of $43 million.
Techmeme - The circulation of USDC was $73.4 billion as of June 30.
Techmeme - Circle's CRCL token fell 20% year-to-date.
WHERE:
Techmeme - The USDC circulation figure is relevant to the United States.
WHEN:
Techmeme - The USDC circulation figure was reported as of June 30.
WHY:
Yahoo Finance - Circle's quarterly financial results reflect the current rate environment and a crypto market that has slowed, which are conditions outside their network.
Cointelegraph - The revenue miss was attributed to lower-than-expected circulation.
HOW:
Yahoo Finance - Morgan Stanley analysts downgraded Circle to "underweight" earlier in the week, citing a "confluence of tactical and structural headwinds" facing the company.
Techmeme - The revenue and net income figures were derived from Circle's financial reporting for the second quarter.
(UPDATED August 5, 2026 18:28 UTC)
Circle's revenue rose by 7% to $701 million, although this fell short of the $712 million average forecast from analysts surveyed by Bloomberg. As of June 30, the amount of USDC in circulation reached approximately $73.4 billion, an increase from about $62 billion a year earlier, but down from a peak of around $79.6 billion in March. Following these results, Morgan Stanley analysts downgraded Circle to "underweight," pointing to a mix of tactical and structural challenges impacting the company.
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(UPDATED August 5, 2026 13:41 UTC)
Circle, the stablecoin issuer, reported a revenue of $701 million for the second quarter, which represents a 7% increase year-over-year but fell short of Wall Street estimates of about $712 million. The company also reported a net income of $48 million, surpassing expectations of $43 million, while the circulation of USDC stood at $73.4 billion as of June 30. However, Circle's CRCL token has seen a decline of 20% year-to-date, with the revenue miss attributed to lower-than-expected circulation.