Circle CRCL Q1 2026 Earnings: USDC Beats Tether in Volume for First Time Since 2019

# Circle CRCL Q1 2026 Earnings: USDC Beats Tether in Volume for First Time Since 2019

> **Quick answer:** Circle (NYSE: CRCL) reports Q1 2026 earnings before market open on May 11, 2026, with Wall Street expecting $714.9 million in revenue and EPS of $0.178. The bigger story: USDC now commands 64% of adjusted stablecoin transaction volume — surpassing Tether for the first time since 2019 — driven by regulatory tailwinds from the GENIUS Act and a CLARITY Act compromise that sent CRCL stock up nearly 20%.

Circle Internet Group (NYSE: CRCL) earnings day has arrived, and the numbers Wall Street cares most about may not even be on the income statement. USDC — Circle's dollar-pegged stablecoin — has quietly overtaken Tether in adjusted transaction volume, a structural market shift that reframes what Circle's Q1 2026 earnings actually mean for investors and anyone holding dollars in the digital economy.

*This article is for informational purposes only and does not constitute financial or legal advice. Consult a qualified financial advisor or attorney for decisions specific to your situation.*

## What Wall Street Expects from Circle Q1 2026 Earnings

Circle is reporting its first-quarter 2026 financial results before market open today with a live webcast at 8 a.m. ET. Here are the consensus numbers: