UPDATE: Lamar Advertising Posts Upbeat Q2 Revenue

Lamar Advertising Co

posted upbeat second-quarter revenue, but issued downbeat forecast for the third quarter. Lamar Advertising expects Q3 revenue of $303 million to $306 million, versus analysts' estimates of $307.1 million. Lamar Advertising's quarterly net income climbed to $13.9 million, or $0.15 per share, versus $11.4 million, or $0.12 per share, in the year-ago period. Its revenue gained 3.9% to $304.9 million. However, analysts were expecting earnings of $0.15 per share on revenue of $304 million. Lamar Advertising shares closed at $31.50 yesterday.