The gains erased $1.5 billion to $2 billion of mortgage-related losses elsewhere at the firm, according to the Wall Street Journal.
NEW YORK (Reuters) - Goldman Sachs Group Inc's <GS.N> bet that securities backed by risky home loans would fall in value brought nearly $4 billion of profits in the year ended November 30, the Wall Street Journal reported on its Web site on Thursday, citing people familiar with its finances.
The gains erased $1.5 billion to $2 billion of mortgage-related losses elsewhere at the firm, according to the Wall Street Journal.
The company is expected to report a "record" net annual income of more than $11 billion, the Journal said.
Goldman Sachs was not immediately available for comment.
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