UPDATE 4-Box office hits help lift Viacom profit 15 pct

* Adj Q3 EPS 69 cents vs Wall St. estimates of 57 cents

* Q3 rev falls 3 pct to $3.32 bln

* Box office and "The Beatles: Rock Band" boost results

* Shares up less than 1 percent (Adds executive comments, byline)

By Paul Thomasch

NEW YORK, Nov 3 (Reuters) - Viacom Inc's (VIAb.N) quarterly profit rose 15 percent, breezing past expectations, as consumers set aside money worries to take in hit movies like "Transformers" and scoop up the new Beatles video game.

Cost-cutting also helped Viacom, the first of the major media conglomerates to report quarterly earnings. Signs that consumers were willing to open their wallets -- and suggestions of a slight improvement in advertising sales -- may bode well for Time Warner Inc (TWX.N) and News Corp (NWSA.O).

Viacom, which runs a host of media businesses including MTV, Comedy Central and the Paramount movie studio, said on Tuesday that profit rose to $463 million, or 76 cents a share, from $401 million, or 65 cents a share, in the same period a year ago. Revenue fell 3 percent, largely in line with Wall Street expectations.

Adjusted earnings totaled 69 cents per share, well ahead of the 57 cents per share analysts had expected. Shares of Viacom rose slightly in morning trading.