UPDATE 2-Tenet posts small net loss; cost controls help

* Q3 net loss 1 cent a share

* Raises full-year adj EBITDA view, cuts outlook for net

* Q3 net oper rev up 5.7 percent as admissions stabilize

* Managed care admissions down, but pricing improves

* Shares fall 1 percent (Adds earnings details, share activity)

CHICAGO, Nov 3 (Reuters) - Hospital operator Tenet Healthcare Corp (THC.N) reported a small quarterly net loss on Tuesday, saying rising unemployment has had less of an impact on the company than was expected.

Tenet, the third-largest hospital chain behind privately held HCA Inc [HCA.UL] and Community Health Systems Inc (CYH.N), reported a net loss of $3 million, or 1 cent a share, for the third quarter, compared with net income of $104 million, or 22 cents a share, a year earlier, when pretax gains on sales of investments boosted results.

Dallas-based Tenet said its adjusted earnings before interest, tax, depreciation and amortization rose 50 percent to $240 million, helped by cost-reduction initiatives.

Tenet raised its forecast for full-year adjusted EBITDA by $25 million to a new range of $925 million to $975 million. It reduced its forecast for net income to a range of $66 million to $130 million from a prior forecast of $76 million to $141 million.

Third-quarter net operating revenue rose 5.7 percent to $2.26 billion as admissions stabilized and outpatient visits grew.

Total admissions increased 0.1 percent on a same-hospital basis, while admissions by paying customers fell 0.1 percent. Outpatient visits rose 4.8 percent, and paying outpatient visits rose 5.3 percent.

Commercial managed care admissions decreased 4.5 percent, in line with declines in member enrollment seen in national health plans, Tenet said. It also said pricing improved on commercial managed care contracts.

Bad debt expense increased to 8.5 percent of net operating revenue from 7.6 percent a year earlier, which analysts said was expected because of the rise in uninsured patients.

Tenet shares were down 5 cents to $5.35 in morning trading on the New York Stock Exchange. (Reporting by Susan Kelly, editing by Gerald E. McCormick and John Wallace)