Goldman Sachs reported mixed fourth-quarter results, with revenue falling 3% to $13.45 billion but EPS rising 17.2% to $14.01. The bank divested its Apple credit card business, resulting in a revenue hit to platform solutions. However, global banking and markets, and asset and wealth management, exceeded revenue expectations. CEO David Solomon expects investment banking activity to accelerate. The bank raised its medium-term targets for asset and wealth management. Revenue in global banking and markets grew 22.4% to $10.41 billion, driven by investment banking revenue increasing 25%. Fixed income, currency, and commodities revenue was 12% above last year. Equities revenue rose 25%. Asset and wealth management revenue declined 1%, primarily due to a 36% drop in investment revenue. The firm announced a 50-cent-per-share dividend increase and has $32 billion remaining for share repurchases.

Read more at CNBC: We’re raising our price target on Goldman Sachs after strong, noisy Q4