* Q3 EBIT 8.8 million eur vs 7.4 million eur forecast
* Ups forecast for 2010 revenue growth to above 20 percent (Adds details)
VIENNA, Nov 11 (Reuters) - Austrian cranemaker Palfinger raised its revenue growth outlook for 2010 on Thursday after reporting third-quarter profit above market expectations thanks to a recovery in its markets and cost cuts.
Palfinger, whose competitors include Finland's Cargotec and Konecranes, and Germany's Demag Cranes, reported July-September earnings before interest and tax (EBIT) of 8.8 million euros.
Analysts had forecast a profit of 7.4 million euros compared with a small loss of 0.5 million in the same quarter last year.
The company -- whose main product is truck-mounted cranes often used by builders -- said it now expected revenue growth of more than 20 percent for 2010, up from a 15 percent estimate it gave in August.
Citing a satisfactory business performance, it added that a continuation of the "underlying slight upward trend" was expected for the October-December period.
(Reporting by Fredrik Dahl and Christian Gutlederer; editing by Erica Billingham)