US Stock Market Move | Circle (CRCL.US) fell by more than 7.4% with a 66% increase in Q3 revenue to $740 million.

On Wednesday, the stock price of Circle (CRCL.US) declined, with the stock falling over 7.4% to $90.96 at the time of writing. In terms of news, the latest financial report shows that Circle's earnings per share in the third quarter were 64 cents, which is 220% higher than the analysts' consensus of 20 cents. The company's net profit from continued operations was $214 million, demonstrating strong profitability in core business. Revenue in the third quarter increased by 66% to $740 million. The significant increase in USDC circulation is a key factor driving the revenue growth of Circle. The stablecoin's circulation has more than doubled compared to the same period last year, indicating a sustained demand in the market for regulated stablecoins.