UPDATE 1-Geo Group Q3 results top Wall Street view

* Q3 EPS $0.37 vs est $0.35 * Q3 revenue $294.9 mln vs est $277.5 mln * Co backs Q4 view

Nov 2 (Reuters) - Prison operator GEO Group Inc (GEO.N) reported better-than-expected quarterly results aided by strong demand for correctional, detention, and residential treatment beds in its core market segments.

For the latest third quarter, net income rose to $19.3 million, or 37 cents a share, from $15.9 million, or 31 cents a share, a year ago.

Revenue rose 16 percent to $294.9 million.

Analysts on average were looking for a profit of 35 cents a share, on revenue of $277.5 million, according to Thomson Reuters I/B/E/S.

The company also backed its fourth-quarter earnings outlook of 38 to 39 cents a share. [ID:nWNAB8199]

GEO operates 62 correctional and residential treatment facilities in the United States, Australia, South Africa, and the United Kingdom.

Shares of the Boca Raton, Florida-based company closed at $21.15 Friday on the New York Stock Exchange. (Reporting by Viraj Nair in Bangalore; Editing by Gopakumar Warrier)