Circle Q2 Revenue Misses Expectations
Circle posted $701 million in Q2 revenue and reserve income, missing Wall Street's expectation of roughly $713 million, despite recording 7% year over year revenue growth.
The report wasn't entirely negative, because:
• USDC circulation grew 19% to $73.3 billion
• On-chain USDC transaction volume surged 151% year over year to $14.8 trillion
• Net income reached $48 million
• Circle also confirmed the public mainnet launch of Arc on September 16, with major institutions including BlackRock, Visa, Mastercard, and Standard Chartered participating in its validator ecosystem.
The expectation wasn't met, but the continued growth in USDC adoption and Circle's expanding institutional infrastructure suggest the company remains focused on long term ecosystem expansion rather than just quarterly results.
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