UPDATE 1-American Tower Q3 profit meets Street view

* Q3 EPS of 17 cents meet estimates

* Q3 revenue beats Street

* Reiterates '09 adjusted EBITDA guidance

Nov 3 (Reuters) - Wireless-tower operator American Tower Corp (AMT.N) posted better-than-expected quarterly revenue but profit came in line with Wall Street expectations as expenses rose.

Third-quarter net income increased to $67.4 million, or 17 cents per share, from $60.5 million, or 15 cents per share, a year earlier.

Revenue rose 8.5 percent to $444.1 million.

Analysts expected earnings of 17 cents a share, excluding exceptional items, on revenue of $430 million, according to Thomson Reuters I/B/E/S.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 9.6 percent to $304.2 million, the company said in a statement.

Third-quarter rental and management revenue, which contributed about 97 percent to the total revenue, rose 9.2 percent to $430.5 million.

Total operating expenses were up 4 percent to $265 million.

The company also reaffirmed its 2009 adjusted EBITDA guidance in the range of $1.16 billion to $1.19 billion.

Shares of the company, which compete with Crown Castle International Corp (CCI.N), closed at $37.13 Monday on the New York Stock Exchange. (Reporting by Shrutika Verma in Bangalore; Editing by Maju Samuel)