Shares of Circle Internet Group (CRLC) rose nearly 30% during Wednesday’s trading session after the company delivered results for the fourth quarter (Q4) 2025 that exceeded Wall Street’s expectations.
The strong earnings report, driven largely by USDC stablecoin growth and higher retained earnings, pushed the stock to around $79.13 at the time of writing, marking a 29.2% gain over the past 24 hours.
Circle Profits Rise on USDC Expansion
In the fourth quarter, the Circle report earnings of $0.43 per share, above analysts’ $0.16 per share. Total revenue and net income reached $770 million, which is up 77% compared to the same period last year and exceeded consensus estimates of $747.4 million.
The growth of USDC circulation and transaction activity played an important role in the company’s performance. By the end of 2025, USDC in circulation had risen to $75.3 billion, a 72% year-over-year (YoY) increase.
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On-chain transaction volume including the USDC reached $11.9 trillion in the fourth quarter alone, up 247% from the year-ago quarter. Net income from continuing operations reached $133 million in Q4, an improvement of $129 million compared to last year. Adjusted EBITDA for the quarter came in at $167 million, up 412% YoY.
Looking at the full fiscal year, Circle generated $2.7 billion in revenue and retained earnings in 2025, a 64% increase compared to 2024. Despite that top-line growth, the company posted a net loss from continuing operations of $70 million for the year.
That figure was significantly impacted by stock-based compensation expense of $424 million that vests in 2025. first public offering (IPO).
In comparison, Circle recorded total revenue of $157 million from continuing operations in 2024. Adjusted, full-year EBITDA increased 104% to $582 million.
The CEO’s Long-Term Vision
Jeremy Allaire, Circle’s founder, CEO, and chairman, described the quarter as another milestone in the company’s long-term strategy. He said the results show continuous progress in building an infrastructure that he called an open and programmable internet financial system.
According to Allaire, the adoption of USDC has been extended to all businesses, developers, and public institutions, with digital dollars widely used in payments, treasury management, and financial operations in the chain.
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The executive also pointed to progress regarding the launch of Arc’s mainnet, increased transaction volume across Circle’s CPN network, and increased growth of the company’s euro-backed stablecoin EURC and USYC’s treasury product.
The rally, which went public on the New York Stock Exchange (NYSE) in June of last year, has met with significance to waver from its beginning. Although a recent rally lifted shares closer to $79, the stock remains about 73% below its all-time high of $299, reached just weeks after the market release.
Featured image from DALL-E, chart from TradingView.com
