USDC is growing. How much of the income does Circle keep?

Circle’s November 4 earnings will follow a quarter in which distribution and transaction costs absorbed nearly 59% of revenue and reserve income. Its filings show that the amount retained still grew, while new payments and blockchain products bring different sources of income and expense. Summary Circle has scheduled its Q3 results for November 4, with an earnings webcast at 8 am ET. Q2 revenue and reserve income reached $701.315 million against $412.470 million in distribution, transaction and other costs. The difference was $288.845 million before operating expenses, a 41.2% retained-revenue margin. Coinbase-related distribution costs were $324.6 million during the 3 months ended June 30. Circle’s rate model estimates a $737 million annual reserve-income change for a hypothetical 1-percentage-point rate move. Circle has scheduled its third-quarter results for November 4 after retaining $288.845 million of second-quarter revenue and reserve income before operating expenses, with distribution, transaction and other costs taking nearly 59% of the total. Circle’s earnings announcement says management will discuss the results at 8 am ET on Wednesday. Its previous financial statements ...