Circle tops estimates, but plans 5% workforce cut
BROBROK News · Based on reporting by CoinDesk ·
Circle reported better-than-expected quarterly results, supported by strong revenue and net income from continuing operations of $226 million in the third quarter, up 5% year over year. The company also said it will reduce its workforce by 5%.
Key points
- Net income from continuing operations was $226 million in Q3
- That figure was up 5% from a year earlier
- Circle said revenue was strong in the quarter
- The company plans to cut 5% of its workforce
Why it matters
The report points to solid operating performance, but the job cuts suggest Circle is also tightening costs. For crypto investors, it offers a snapshot of the financial health of a major stablecoin-linked company.
Original headline: “Circle beats earnings expectations on strong revenue, but cuts 5% of its workforce”
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.