Arbitron climbs as forecast tops estimates
Arbitron Inc., the provider of audience ratings for U.S. radio stations, rose the most in more than four months after forecasting sales that beat analysts’ estimates. Revenue will increase 5 percent to 7 percent this year, the company said today in a statement. That would be $443.4 million to $451.9 million, and analysts had estimated $442 million on average, according to a Bloomberg survey. Arbitron is benefiting from price increases on its Portable People Meter radio ratings services and gains in sales of discretionary services. The company said it plans to buy back as much as $100 million in stock.