Goldman Sachs Group Inc. (NYSE: GS) earnings reported today (Tuesday) beat expectations, but still showed a 23% profit drop from a year ago - will investors dump it for banks with better earnings? Goldman Sachs Stock Price History (NYSE: GS) Goldman said revenue from trading bonds, currencies and commodities was not as robust as counterparts JPMorgan Chase (NYSE: JPM ) and Wells Fargo (NYSE: WFC ). The decline pushed first-quarter net income to $2.11 billion, from $2.74 billion the year before. The bank still beat analysts' forecast of $3.55 earnings per share (according to 24 analysts polled by Bloomberg News ), coming in at $3.92 - although expectations were set fairly low. The earnings news pushed shares down more than 2% in premarket trading. "Although earnings actually beat consensus, I think that the results look somewhat disappointing in comparison with the strong numbers we've seen out of JPMorgan and Citigroup," Richard Staite, an analyst at Atlantic Equities LLC in London, said in an interview with Bloomberg . "The market had perhaps hoped for a real blow-out quarter from Goldman Sachs." This isn't the first weak earnings announcement from the big bank. It recorded a quarterly loss last fall, only its second since going public in 1999. In 2010 and 2011, its net income fell year-over-year in six of the eight quarters. While mixed earnings aren't shocking from an industry still adjusting to a post-financial crisis landscape, Goldman's lackluster numbers could drive investors toward better-performing and less controversial firms. Goldman Sachs (NYSE: GS) Mixed Earnings Goldman Sachs , the fifth-largest U.S. bank by assets, lost 20% in fixed-income trading last quarter. That's more than JPMorgan, the biggest U.S. bank by assets, which saw an 11% slip in fixed-income trading, and No. 3 Citigroup (NYSE: C ), which lost 4%. Goldman's revenue fell 16% to $9.95 billion, beating analysts' expectations of $9.41 billion. While most results fell short of 2011's first quarter, they did show gains from the previous quarter. Total trading revenue soared 87% from the fourth quarter on due to gains in stock and corporate debt markets. Goldman CEO Lloyd Blankfein hopes market gains and business expansion will drive profits the rest of the year. "Our mix of businesses gives the firm significant room for revenue growth as economic and market conditions continue to improve," Blankfein said Tuesday in a statement. Goldman also announced a 31% dividend increase to 46 cents a share, for a 1.6% yield. Click here to continue reading...