JPMorgan Chase posted fourth-quarter results that topped expectations on better-than-expected revenue from the bank’s trading operations.

Here’s what the company reported:

Adjusted earnings: $5.23 per share vs. $5 consensus estimate from LSEG

Revenue: $46.77 billion vs. $46.201 billion expected by LSEG

The company said profit fell 7% to $13.03 billion, or $4.63 per share, because of a preannounced $2.2 billion reserve tied to its takeover of the Apple Card loan portfolio from Goldman Sachs

. Excluding the 60 cent per share hit from that transaction, adjusted earnings came in at $5.23 and topped analysts’ expectations.

Companywide revenue rose 7% to $46.77 billion as net interest income also climbed by 7% to $25.1 billion, roughly matching analyst expectations for NII, according to StreetAccount.

Equities trading revenue surged 40% to $2.9 billion, about $350 million more than analysts had expected, as the company cited strength across operations, especially in its business catering to hedge funds. Fixed income trading revenue rose 7% to $5.4 billion, about $110 million more than expected, according to StreetAccount.

Investment banking, however, appeared to disappoint, as fees fell 5% to $2.3 billion, roughly $210 million below the StreetAccount estimate.

Shares of the bank were down 3% in morning trading.