Circle is looking to payments fees and future staking rewards to diversify revenue as its core stablecoin business faces pressure from lower yields and growing competition.
Circle’s expansion beyond stablecoins supplied the biggest boost to its third-quarter earnings, as the company recognized $182 million in revenue from its ARC token presale, helping offset falling income from the reserves backing its flagship stablecoin, USDC.
The company reported diluted earnings per share of $0.84, up from $0.64 a year earlier and double analysts’ expectations of $0.42. Total revenue and reserve income rose 17% to $865 million. Without the ARC token sale, however, revenue would have fallen from a year earlier.
Circle shares were down 0.84% at $74.59 at 16:05 UTC on Nov. 4, according to Yahoo Finance.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments