Goldman Sachs saw profit plummet 33% in the the third quarter as the bank faces ongoing losses from selling off chunks of its consumer lending business and worse than expected revenue from its asset and wealth management division.

The Wall Street giant’s profits were buoyed by strong revenue from its trading business, which helped the bank — helmed by Chief Executive David Solomon — beat analyst expectations, the bank said Tuesday.

The third quarter profit was $2.1 billion or $5.47 per share — slightly ahead of the $5.42 per share analysts predicted, according to data from FactSet. Revenue dropped to $11.8 billion — declining 1% year over year and beating expectations.

It’s the eighth straight quarter the bank has seen a year-over-year profit decline. Shares of Goldman traded roughly 1% lower around $309 per share.

Compared to its peers, Goldman’s success is tied closely to its banking and trading business meaning a slowdown in deal making and a down market have an outside impact on the bank.

In comparison, JPMorgan — which has a thriving consumer business and wealth management arm — saw a 35% increase in profits year over year.

Following the report, Solomon said he is confident the bank is moving in the right direction and that the difficult market conditions will soon clear up.

“We continue to make significant progress executing on our strategic priorities and we’re confident that the work we’re doing now provides us a much stronger platform for 2024.”

“I also expect a continued recovery in both capital markets and strategic activity if conditions remain conducive. As the leader in M&A advisory and equity underwriting, a resurgence in activity will undoubtedly be a tailwind for Goldman Sachs.”

While Goldman has tried to build out its consumer business in recent years, it’s had to largely scrap those efforts — last week it announced it was selling off its fintech acquisition Greensky at a loss.

The bank has re-focused its efforts on building out its asset and wealth management group — and in a positive sign for the division, AWM collected a record amount of fees this quarter.