Circle reported third-quarter 2026 diluted earnings of $0.84 per share, up from $0.64 a year earlier. Total revenue and reserve income rose 17% to $865 million, boosted by $182 million recognized from an ARC token presale. Without that contribution, the total would have fallen roughly 8% from a year earlier.
Income from reserves backing USDC fell 8% to $657.6 million as lower returns outweighed growth in the stablecoin’s average circulation. Circle expects material revenue from its payments network in 2027 and is targeting a 2027 move to proof of stake for Arc, after which it anticipates staking rewards; that revenue depends on the network’s development. Its earnings disclosures also included a workforce reduction affecting approximately 5% of employees.
