UPDATE 1-Pitney Bowes beats Street as cost cuts help

* Q3 EPS ex-items 55 cents vs Street view 54 cents

* Q3 revenue $1.36 bln vs Street view $1.41 bln

SAN FRANCISCO Nov 3 (Reuters) - U.S. mail service provider Pitney Bowes Inc (PBI.N) reported earnings that were a penny above Wall Street's expectations, as cost-cutting efforts began to pay off, and revenue fell 12 percent.

Pitney Bowes, which competes with France's Neopost (NPOS.PA) to provide mailroom equipment and services, on Thursday reported that net income rose to $103.23 million, or 50 cents a share, in its fiscal third quarter, from $98.23 million, or 47 cents a share a year earlier.

Excluding items, it earned 55 cents a share compared with the average analysts' estimate of 54 cents a share, according to Thomson Reuters I/B/E/S.

Revenue fell 12 percent from a year earlier to $1.36 billion, which was below the Wall Street average estimate of $1.41 billion.

The company, which does not provide an outlook on a quarterly basis, forecast adjusted earnings for 2009 of $2.19 to $2.31 cents a share from continuing operations, with revenue down 5 to 8 percent.

Shares of Pitney Bowes rose to $24.70 in extended trading, from their $24.67 closing price. (Reporting by Ian Sherr; editing by Carol Bishopric)