* 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: Quote, Profile, Research) 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.