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Morgan Stanley on Wednesday posted third-quarter earnings that beat expectations by the largest margin in nearly five years on booming equities trading, investment banking and wealth management results.

Here's what the company reported:

Earnings per share: $2.80 vs. $2.10 expected, according to LSEG

Revenue: $18.22 billion vs. $16.7 billion, according to LSEG

The bank said profit surged 45% from a year earlier to $4.61 billion, or $2.80 per share. Revenue rose 18% to a record $18.22 billion.

Morgan Stanley shares popped almost 5% in premarket trading. They were up roughly 24% this year as of Tuesday's close.

Wall Street trading desks have had high levels of activity in the quarter, while investment ba

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