Vanguard shares up 4.9% on strong earnings report

NEW YORK — Vanguard shares climbed 4.8% on Wednesday, as the firm reported strong earnings and revenue.

The company posted its second straight quarterly profit, bringing its current year total to $2.5 billion.

Analysts were expecting the average price to be $2,700 higher.

The stock closed at $35.25 on the New York Stock Exchange, with about $2 billion in trading volume.

The Dow Jones industrial average jumped 2.2 points, or 0.3%, to 19,932.02.

The Nasdaq composite index added 0.1% to 4,822.63.

The S&P 500 added 0 and the Russell 2000 index rose 0.2%.

The dollar rose against a basket of currencies.

The greenback fell to 121.45 yen from 122.50 yen.

Vanguard shares closed at a record high of $38.80.

The S&amps rose 2.4% to $44.70.