Circle Internet Group, Inc. reported a 17% year-over-year increase in combined third-quarter revenue and reserve income, while shares fell 8.72% to $69.48 Thursday, Nov. 5, according to Massive. Investing.com and MarketBeat reported that Compass Point changed its rating on Circle from Neutral to Buy and set a $99 price target.
Circle’s SEC-filed results put combined revenue and reserve income at $865 million for the quarter ended Sept. 30, 2026. That total exceeded the LSEG consensus revenue estimate reported by Reuters. Profit from continuing operations reached $226 million, up 5% from a year earlier, while diluted earnings were $0.84 per share.
The quarter’s revenue mix included $182 million from an ARC token presale. Circle issues USD Coin (USDC) and earns reserve income from assets backing the stablecoin. Reserve income declined 8% to $658 million; Circle attributed the decrease mainly to a 61-basis-point drop in its reserve return rate. Adjusted EBITDA, a non-GAAP measure, rose 85% to $317 million.
Average USDC in circulation reached $73.3 billion, an 8% increase from a year earlier. At quarter-end, circulation was $73.9 billion, unchanged year over year, while USDC onchain transaction volume climbed 49% to $13.9 trillion.
Circle kept its fiscal 2026 guidance unchanged, projecting $310 million to $330 million in other revenue, including ARC presale revenue recognized during the year. Co-founder, CEO and Chairman Jeremy Allaire said, “In Q3, we saw continued proof that institutions are building and expanding on USDC.”
