Guardiola's side have lost eight of their past 11 games in all competitions following the devastating 2-1 defeat in the Manchester derby at the Etihad Stadium on Sunday.
Manchester City have won just once in 11 games in all competitions, a run that includes eight defeats.
Enzo Maresca's high-flying Chelsea beat Brentford 2-1 at Stamford Bridge to close to within two points of long-time leaders Liverpool, who have 36 points.
Josko Gvardiol's first-half goal appeared to have won the game for the Premier League champions but Bruno Fernandes levelled from the penalty spot in the 88th minute and the impressive Amad Diallo poked home the winner two minutes later.
Guardiola's side have won once in their last 10 matches in all competitions, sit fourth in the Premier League, eight points behind leaders Liverpool, and are in danger of a humiliating exit from the Champions League.
However, profits dipped from £80.4 million in City's treble-winning 2022-23 campaign to £73.8 million last season.
Manchester City were plunged further into crisis on Wednesday after falling to a 2-0 defeat at Juventus which threatens their chances of reaching the last 16.
The English champions stand accused of 80 breaches of financial rules between 2009 and 2018, plus a further 35 of failing to cooperate with a Premier League investigation.
Manchester City are fourth in the league table on 27 points after 15 games, while Palace are 16th.
Manchester City manager Pep Guardiola said he is pleased that the club's long-awaited hearing into 115 charges brought by the Premier League is set to start on Monday.
The 24-year-old Norwegian scored his 11th hattrick for City to extend the champions' perfect start to their title defence, notching up his seventh goal in three league games this season.
Erling Haaland fired Manchester City to the top of the Premier League with a second consecutive hattrick in a 3-1 win at West Ham on Saturday.
"The numbers are ridiculous," Guardiola told reporters. "He can compete in terms of goals with Cristiano and Messi. The numbers are unbelievable at his age. He's an incredible threat, hopefully he can be here for many years."
Manchester City scored a flurry of three goals in less than four minutes to beat newly-promoted Ipswich Town 4-1 in the Premier League on Saturday, roaring back from a shock start at Etihad Stadium.
A verdict expected in coming months on Manchester City's alleged breaches of the Premier League's financial regulations will not affect the players' performance, manager Pep Guardiola said ahead of Saturday's home game against Ipswich Town.
Manchester City got their Premier League title defence off to a winning start as goals from Erling Haaland and Mateo Kovacic inflicted a 2-0 defeat on Enzo Maresca in his first match in charge of Chelsea.
Mikel Arteta admits Arsenal will have to be almost perfect in their pursuit of Manchester City if the Gunners are to end their long wait for a Premier League title.
Manchester City will be without Rodri for the start of their Premier League title defence after Pep Guardiola revealed the Spain midfielder has been ruled out of Sunday's opener against Chelsea.
Manchester City striker Erling Haaland is in the hunt to win a second successive PFA Player of the Year award after being nominated alongside team-mates Phil Foden and Rodri.
