Circle Stock Falls After 10 Million Share Offering

Circle Internet Group, Inc. CRCL stock was moving lower in Tuesday's extended trading session after the company announced it had launched a public offering of 10 million shares of its Class A common stock.

The Details:  Circle is offering 2 million shares of Class A common stock and the selling stockholders are offering 8 million shares of Class A common stock. 

Circle also will grant the underwriters a 30-day option to purchase up to an additional 1.5 million shares of Class A common stock.

Read Next: Circle Stock Pops On Q2 Earnings: USDC Hits $65.2 Billion In Mainstream Stablecoin Adoption 

What Else: Earlier on Tuesday, Circle released its first earnings report as a publicly traded company. Circle beat analyst expectations on the top and bottom lines with quarterly revenue growth of 53% year-over-year. 

Revenue of $658.08 million topped the analyst consensus estimate of $540.02 million and adjusted EPS loss of 43 cents beat the Street estimate of 46 cents.

CRCL Stock Price: According to data from Benzinga Pro, Circle stock was down 6.28% at $152.96 in Tuesday's extended trading. 

Read Next: 

• Quantum Stock Tracker: D-Wave, IonQ Q2 Earnings Roll In

Photo: Shutterstock