Circle Jumps After Quarterly Revenue Gain Beats Estimates

Just two months after one one of the splashiest public debuts in years, stablecoin issuer Circle Internet Group Inc. said revenue rose more than expected, sending its shares soaring.

Circle’s revenue jumped 53% to $658 million, beating the $647.3 million average estimate of analysts surveyed by Bloomberg, according to a statement on Tuesday. The stock jumped as much as 18% in early New York trading, the biggest intraday advance in almost a month, before paring the increase by more than half.