Circle missed Q2 revenue. The market doesn’t care.
Revenue hit $701M, below $713M estimates, despite a 25% jump in average USDC circulation and a $530M YOY net income increase. Pre-market, the stock still rose 5.7%.
Wall Street is pricing in the Arc blockchain launch on Sept 16. New guidance for other revenue, hiked from $150-170M to $310-330M, is driving the optimism. The market is looking past the stablecoin slump, focusing on new revenue streams.
Arc token presale revenue is key. $BTC
Revenue hit $701M, below $713M estimates, despite a 25% jump in average USDC circulation and a $530M YOY net income increase. Pre-market, the stock still rose 5.7%.
Wall Street is pricing in the Arc blockchain launch on Sept 16. New guidance for other revenue, hiked from $150-170M to $310-330M, is driving the optimism. The market is looking past the stablecoin slump, focusing on new revenue streams.
Arc token presale revenue is key. $BTC