Circle (CRCL) Q3 Preview: Zacks Consensus Sees EPS of $0.40 With USDC Growth in Focus
Key Takeaways
- •Circle is set to release its third-quarter financial results before the market opens on November 4, followed by an 8 a.m. ET webcast.
- •Zacks-tracked consensus expects quarterly EPS of $0.40, a 37.5% year-over-year drop from about $0.64.
- •Analysts project third-quarter revenue of $796.95 million as the benchmark for the reported figures.
- •Circle's revenue model relies primarily on reserve income from cash and short-dated U.S. Treasuries backing USDC, making supply size and interest rates the key variables in its results.
- •After its June 2025 IPO on the NYSE, Circle's quarterly disclosures provide one of the few recurring public-market views into stablecoin circulation trends and reserve yields.
Circle Internet Group (NYSE: CRCL) is scheduled to release its third-quarter financial results before the market opens on Wednesday, November 4, with a webcast set for 8 a.m. ET.
Consensus estimates tracked by Zacks call for earnings per share of $0.40, down 37.5% from a year earlier, on projected revenue of $796.95 million. The consensus decline implies a year-ago quarterly figure of about $0.64.
The business behind the numbers
Circle is the issuer of USDC, one of the largest U.S. dollar-pegged stablecoins in circulation. Stablecoins of this kind are designed to track the value of the U.S. dollar and serve as a common settlement medium across digital-asset markets.
The majority of the company's revenue comes from reserve income — interest earned on the cash and short-dated U.S. Treasury assets held in reserve to back USDC tokens outstanding. Under that model, the size of USDC's circulating supply sets the base on which interest is earned, while prevailing interest rate levels set the yield on that base — two inputs widely recognized as the central variables in Circle's quarterly performance.
Why the report is closely watched
Circle's shares trade on the New York Stock Exchange under the ticker CRCL following the company's June 2025 initial public offering, a widely followed public listing for the stablecoin sector. Its quarterly disclosures offer one of the few recurring public-market windows into stablecoin economics, including circulation trends and reserve yields.
Heading into the November 4 print, the $0.40 EPS consensus reflects a projected year-over-year decline, while the $796.95 million revenue estimate sets the benchmark against which reported results will be measured. Per the report preview, USDC supply growth is the focal point for the quarter. Given the reserve-income model, the USDC circulation figures disclosed alongside the results — together with any commentary on the interest-rate environment — are the natural data points for readers assessing how the quarter measured up against the consensus bar.
This article was first published on COINOTAG: https://en.coinotag.com/circle-crcl-q3-earnings-usdc-supply-eps-040
