Stablecoin issuer Circle's Q2 revenue increased by 53%, with stock price rising over 10% in pre-market trading
Stablecoin issuer Circle (CRCL.US) announced that its revenue in the second quarter increased by 53% year-on-year to USD 658 million, while its net loss widened to USD 482 million, mainly reflecting the expenses incurred from its listing in June this year. The stock price rose 11% in pre-market trading.
The company expects to record other income in the second half of this year between USD 75 million and USD 85 million, with adjusted operating expenses projected to be between USD 475 million and USD 490 million. The company also anticipates that the circulation of the stablecoin USDC will grow at a compound annual growth rate of 40%
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