Operating profits for Canadian corporations edged down 0.5% in the third quarter to $64 billion.
Statistics Canada reports declines in the financial sector were largely offset by gains in the non-financial sector as 14 of 22 industries reported higher profits.
In the non-financial sector, operating profits increased 3.1% to $49.4 billion, led by retail and wholesale trade, as well as mining.
The agency says manufacturing profits remained virtually unchanged while oil-and-gas profits declined.
In the financial sector, operating profits dropped 11% to $14.6 billion, its second straight quarterly decline, largely due to a drop in the insurance industry.
On a year-over-year basis, operating profits for Canadian corporations were 9.1% higher in the third quarter than in the same quarter of 2010.
Profits increased over the year previous by 10.2% in the non-financial sector and rose 5.3% in the financial sector.