Lamar Advertising posted a $4.8 million third-quarter loss, better than what analysts were expecting. The Baton Rouge-based billboard company lost 5 cents a share in the quarter, compared with the estimated 16 cents a share loss analysts predicted. Lamar has been battered by the national recession and the downturn in advertising from big clients such as auto dealers and real estate companies. The firm brought in $271.8 million in revenue during the quarter, 13% below what was generated in the third quarter of 2008, when Lamar had $312.5 million in revenue. Despite the downturn, that beat the $265.5 million in revenue analysts projected. Lamar says it expects fourth-quarter revenues of $257 million, above the $253.2 million projection offered by analysts.
Lamar posts smaller-than-expected loss
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