# Circle Beats Q3 Estimates on Arc Token Sale, Cuts 5% of Staff

*Author: David Christopher*
*Published: Nov 4, 2026*
*Source: https://www.bankless.com/read/news/circle-beats-q3-estimates-on-arc-token-sale-cuts-5-of-staff*

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Circle [reported](https://www.businesswire.com/news/home/20261104960710/en/Circle-Reports-Third-Quarter-2026-Results) Q3 revenue of $865M, up 17% from a year ago, and adjusted earnings of 84 cents a share, [beating](https://www.coindesk.com/business/2026/11/04/circle-beats-earnings-and-revenue-estimates-on-soaring-usdc-transaction-volume) analysts' forecasts of $778M and 37 cents. Net income from continuing operations rose 5% to $226M. 

## What's the Scoop?

- **The ARC Boost:** $182M [came from](https://www.businesswire.com/news/home/20261104960710/en/Circle-Reports-Third-Quarter-2026-Results) a private presale of ARC, the native token of Circle's Arc blockchain, which launched in September. ARC will be used to secure and govern the network, with staking planned for 2027. 

- **The Core Business:** Reserve income, the interest Circle earns on the assets backing USDC, [fell 8%](https://www.businesswire.com/news/home/20261104960710/en/Circle-Reports-Third-Quarter-2026-Results) to $658M as rates dropped. USDC averaged $73.3B in circulation, up 8%, while onchain volume rose 49% to $13.9T. 

- **The Cuts:** Circle also [disclosed](https://unchainedcrypto.com/circle-cuts-about-5-of-its-workforce-in-quarter-lifted-by-arc-token-presale/) a ~5% workforce reduction and a $9.1M restructuring charge, without saying how many people were let go. 

- **Elsewhere in Circle:** The company [agreed](https://www.businesswire.com/news/home/20261104960710/en/Circle-Reports-Third-Quarter-2026-Results) to buy Singapore payments firm Tazapay and kept its full-year guidance, and CoinDesk [noted](https://www.coindesk.com/business/2026/11/04/circle-beats-earnings-and-revenue-estimates-on-soaring-usdc-transaction-volume) Circle flagged a $100M investment from Binance as a quarter highlight. CRCL slipped ~1% premarket.
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