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Oct. 14 (Bloomberg) -- JPMorgan Chase & Co., the second- largest U.S. bank by assets, said profit in the third quarter beat analysts’ estimates as fixed-income revenue surged.

Earnings climbed to $3.59 billion, or 82 cents a share, from $527 million, or 9 cents, in the same period a year earlier at the height of the financial crisis, the New York-based company said today in a statement. Twenty analysts surveyed by Bloomberg estimated earnings of 51 cents per share. Last year’s quarter included $640 million of losses tied to the takeover of Washington Mutual.

Chief Executive Officer Jamie Dimon is capitalizing on his 2008 acquisitions of Bear Stearns Cos. and WaMu’s banking business to recover from last year’s financial crisis. The deals helped JPMorgan, which repaid $25 billion of government rescue funds in June, expand its consumer-lending and investment- banking businesses.

“JPMorgan will be a star,” said Malcolm Polley, chief investment officer at Stewart Capital Advisors in Indiana, Pennsylvania, which manages $900 million. “If you have enough capital, then you can expand and try to earn your way out of problems,” Polley said before earnings were released.

JPMorgan is the first of the largest U.S. banks to report earnings. Goldman Sachs Group Inc., whose headquarters is in New York, may say tomorrow that profit almost tripled to $2.4 billion, according to analysts’ estimates. New York-based Citigroup Inc., which also reports tomorrow, is expected to post a $2.55 billion loss that would mark its sixth unprofitable quarter in the past eight.

Bank of America

Bank of America Corp., JPMorgan’s bigger competitor, may post a loss of $212.2 million on Oct. 16 as the Charlotte, North Carolina-based company continues to integrate its Merrill Lynch & Co. acquisition, according to the Bloomberg survey