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The market is rattled again this morning as Goldman Sachs (GS) reported a major earnings decline. For their third quarter, Goldman earned $1.81 a share which beat Wall Street's consensus of $1.73. This is a major shortfall compared with the $6.13 a share it made for last year's third quarter.

I'm seeing a lot of scary headlines (Goldman Sachs net plunges 70 percent) but some perspective is needed. Goldman is still making a lot of money, just not the absurd amounts seen in 2006 and 2007. GS's profits are up 25% in the last three years. Annualized, that's not a huge increase, but it's still up.

Posted by edelfenbein at September 16, 2008 9:44 AM