* Q3 EPS $0.11 vs $0.08 year ago
* Revenue rises 16 pct
* Free cash flow jumps more than three-fold to $346 mln (Adds details, shares)
Dec 1 (Reuters) - Bombardier Inc reported a 31 percent rise in quarterly profit, helped by strength at its plane- and train-making units, but said economic uncertainty in the United States and Europe continues to hurt demand for commercial aircraft.
Bombardier, the world's third biggest commercial planemaker, reported a third-quarter net profit of $192 million, or 11 cents a share, compared with $147 million, or 8 cents a share, a year ago.
Revenue for the company, which is also the world's No. 1 train maker, rose 16 percent to $4.62 billion.
Analysts, on average, had expected the company to earn 10 cents a share, on revenue of $4.53 billion, according to Thomson Reuters I/B/E/S.
Revenue at its aerospace division, which manufactures business, commercial and amphibious aircraft, was up 28 percent at $2.3 billion.
Revenue at Bombardier's transportation division rose 5 percent to $2.3 billion.
The overall backlog was $55.3 billion as at Oct. 31, compared with $52.7 billion as at Jan. 31, the company said.
Free cash flow rose more than three-fold to $346 million.
Bombardier shares closed at C$3.78 on Wednesday on the Toronto Stock Exchange. (Reporting by Nicole Mordant in Toronto and Bhaswati Mukhopadhyay in Bangalore; Editing by Supriya Kurane)