Investing.com -- Circle Internet Group, Inc. (NYSE: CRCL) reported first-quarter fiscal 2026 results that beat earnings expectations but fell short on revenue, sending shares down 3% premarket following the announcement.

The digital payments company posted adjusted earnings per share of $0.21, topping the analyst consensus of $0.18 by $0.03. However, total revenue and reserve income of $694 million missed the analyst estimate of $715 million, despite growing 20% YoY. The company reported net income from continuing operations of $55 million, down 15% from the prior year period.

Circle's USDC stablecoin in circulation reached $77.0 billion at quarter end, up 28% YoY, while USDC onchain transaction volume surged 263% to $21.5 trillion. Adjusted EBITDA grew 24% YoY to $151 million.

"Circle's first quarter reflected strong execution against a much bigger opportunity: the rapid convergence of AI platforms and economic operating systems into a new internet stack," said Jeremy Allaire, Co-Founder, Chief Executive Officer, and Chairman at Circle.

The company announced a $222 million presale raise for its ARC Token at a $3 billion fully diluted network valuation from investors including a16z crypto, Apollo Funds, ARK Invest, and BlackRock. Circle also unveiled its Agent Stack platform, featuring new products including Circle CLI, Agent Wallets, and Agent Marketplace to enable developers to create agent-driven activity in USDC.

Circle affirmed its prior fiscal 2026 guidance, projecting other revenue of $150 million to $170 million and adjusted operating expenses of $570 million to $585 million. The company maintained its multi-year through-cycle outlook for 40% compound annual growth rate in USDC in circulation.