Circle Stock Skyrockets on Strong Earnings and Aggressive Growth Targets

Circle, a leading provider of blockchain infrastructure, has reported a significant increase in its stock price following a strong fourth-quarter earnings report.

The company's shares rose by approximately 30% to near $80 on Wednesday, driven by the release of its quarterly financial results. Circle exceeded expectations with revenue and reserve income reaching $770 million, representing a year-over-year growth of 77%.

In addition to its impressive revenue figures, Circle also set aggressive growth targets for its USDC stablecoin. The company guided towards a 40% compound annual growth rate for USDC circulation over the next several years, which is expected to fuel further expansion in the market.