Goldman Sachs reported mixed results this quarter. Its asset and wealth management division brought in about $4.72 billion in revenue, roughly flat compared to last year. That number still beat expectations by around $270 million, mainly because higher fees from a growing asset base helped offset weaker performance in public and private equity investments.
The bigger issue came from Goldman’s smallest business segment, platform solutions. That unit posted a $1.68 billion revenue loss, compared to a $592 million gain in the same quarter last year. The bank said the main reason for the decline was its exit from the Apple Card partnership.
Despite the uneven performance across divisions, Goldman’s stock was up more than 1.5% in morning trading.