Lamar Advertising Co., the Baton Rouge-based billboard giant, reported third-quarter earnings of $4 million, or 4 cents per share, compared to $781,000, or 1 cent per share, a year earlier.

Stock analysts surveyed by Thomson Reuters had forecast earnings of 7 cents per share on revenue of $292.3 million.

Lamar said its revenues grew $296.7 million, a 3.7 percent increase over the third quarter of 2010’s $286.1 million.

Lamar estimated its fourth quarter revenue will be around $284 million, compared to $275.7 million in fourth quarter 2010. For the year, that would give Lamar revenue of $1.13 billion; the company’s 2010 revenue was $1.09 billion.