UPDATE 2-Lamar posts Q3 loss, sees strong Q4 rev; shares jump

* Q3 loss $0.05/shr vs est loss of $0.16/shr

* Q3 rev $271.8 mln vs est $265.5 mln

* Sees Q4 rev above Wall Street view

* Shares up as much as 15 pct (Recasts; Adds analysts' comments, updates share movement)

By Sudipto Ganguly

BANGALORE, Nov 5 (Reuters) - Outdoor media advertiser Lamar Advertising Co (LAMR.O) posted a narrower-than-expected quarterly loss, helped by lower expenses, and guided fourth-quarter revenue above expectations, sending its shares up as much as 15 percent.

Lamar, which operates billboards, logo signs and transit advertising displays, said it expects revenue for the current quarter of $257 million.

Analysts were expecting revenue of $253.2 million, according to Thomson Reuters I/B/E/S.

"Its the first time in three quarters where they have guided ahead of Street consensus," said Caris & Co analyst David Miller.

Morgan Stanley analyst Benjamin Swinburne said in a note to clients that the current downturn has shortened contract lengths, which suggests that recovery for the company could come at a quicker pace than in past downturns.

"The quality of their print is very good, they blocked and tackled on expenses beautifully and we are not surprised to see the stock up 12 percent," Miller said.

For the latest third quarter reported, net loss was $4.8 million, or 5 cents a share, compared with a profit of $1.8 million, or 2 cents a share, for the year-ago quarter.

Revenue declined 13 percent to $271.8 million.

Analysts were expecting loss of 16 cents a share, on revenue of $265.5 million.

Shares of Baton Rouge, Louisiana-based Lamar, which competes with CBS Outdoor -- a unit of CBS Corp (CBS.N) -- and Clear Channel Outdoor Holdings Inc (CCO.N), were trading up $3.63 at $28.69 Thursday on Nasdaq. (Reporting by Sudipto Ganguly in Bangalore, Editing by Saumyadeb Chakrabarty, Unnikrishnan Nair)