Abnormal movement in US stocks | Circle (CRCL.US) drops more than 7.4% Q3 revenue increases by 66% to 740 million USD.

According to the the Wise Finance APP, on Wednesday, the stock price of Circle (CRCL.US) fell, dropping more than 7.4% to $90.96 as of the time of writing. News-wise, the latest financial report shows that Circle's earnings per share for the third quarter were 64 cents, which is 220% higher than analysts' expectations of 20 cents. The company's continuing operations net profit was $214 million, demonstrating a strong profitability in its core business. Third quarter revenue increased by 66% to $7.4 billion. The significant increase in the circulation of USDC has been a key factor in driving Circle's revenue growth. The company's stablecoin circulation has more than doubled compared to the same period last year, indicating a sustained demand in the market for regulated stablecoins.