Stock of Goldman fell today, but earned profit in quarter

The Wall Street bank said it earned a profit of $2.04 billion, or $5.02 a share, compared with a profit of $2.10 billion, or $4.88 a share, in the same period a year earlier. Goldman Sachs’ third-quarter profits fell 3% from a year earlier.

Goldman’s trading desks, which are weighted toward bonds, currencies and commodities, struggled this quarter, as did those at its competitors JPMorgan Chase, Citigroup and Bank of America.

Net revenue in that business was $1.45 billion, down 26% from a year earlier.Despite the struggling trading operation, Goldman’s investment banking business had an especially good quarter, reporting a 17% rise in revenue.

Goldman’s stock fell $2.17, or 0.9%, to $240.24 in early morning trading.