Why did AMP's Q3 earnings exceed forecasts significantly?

AMP Ltd.'s (AMP) Q3 earnings exceeded forecasts significantly due to several key factors:

1. **Strong Revenue Growth**: AMP experienced a 13% year-over-year increase in revenue, reaching $1.44 billion. This outperformance was driven by robust demand across its segments, including financial services, insurance, and investment management.
2. **Financial Services Performance**: The Financial Services segment delivered exceptional results, with a 22% revenue increase, primarily due to strong mortgage lending activity and continued growth in financial planning and wealth management services.
3. **Insurance Segment Growth**: The Insurance segment also contributed to the earnings beat, with a 10% revenue increase, supported by higher premium growth across various insurance products.
4. **Investment Management Performance**: AMP's Investment Management segment showed strong performance, driven by positive investment returns and strong asset management fees, which contributed to the overall earnings outperformance.
5. **Cost Management**: AMP's effective cost management, with operating expenses increasing by only 6%, played a crucial role in enhancing profitability margins. This was achieved through strategic initiatives focused on process efficiencies and technology investments.

In summary, AMP's Q3 earnings exceeded forecasts due to strong revenue growth across its segments, effective cost management, and robust performance in specific areas such as mortgage lending and financial planning services.