UPDATE 4-ADP profit beats estimates as costs decline

* Q1 EPS $0.56; Street view $0.50

* Revenue down 4 pct, expenses decline 5 pct

* Raises FY 2010 revenue forecast

* Shares up 1 percent (Adds CFO and analyst comments, updates stock price)

By Juan Lagorio

NEW YORK, Nov 4 (Reuters) - Automatic Data Processing Inc (ADP.O: Quote, Profile, Research) posted higher-than-expected quarterly earnings on Wednesday as the world's largest payroll processing company cut costs to offset lower sales.

ADP also raised its fiscal 2010 revenue forecast, and its shares climbed 1 percent to $41.06.

Net income from continuing operations climbed to $284 million, or 56 cents a share, in the fiscal first quarter, ended Sept. 30, from $278 million, or 54 cents a share, a year earlier.

Earnings beat analysts' average forecast of 50 cents per share, according to Thomson Reuters I/B/E/S.