Lamar Advertising (LAMR) reported Q1 diluted adjusted funds from operations Thursday of $1.60 per share, up from $1.54 a year earlier.

Two analysts surveyed by FactSet expected $1.62.

Revenue for the quarter ended March 31 was $505.4 million, up from $498.2 million a year earlier.

Four analysts surveyed by FactSet expected $508.8 million.

Shares of the company were down 1.7% in recent Thursday premarket activity.