Question-and-Answer Session
Operator
Thank you, sir. At this time we'd like to begin the question-and-answer session of the conference.
(Operator Instructions) The first question comes from Marci Ryvicker with Wachovia Securities. You may ask your question.
Marci Ryvicker - Wachovia Securities
Thanks. On your last conference call, Q4 guidance was for revenue to be flat to down 2%, but you ended up slightly positive. So, where was the upside was it at your stations or at your other initiatives such as digital? And then, secondly, for Q1, how did you do in January versus the negative 6% reported by the RAB, and has there been a lot of fluctuation from month to month?
Steve Fisher
There is no magic answer, Marci, to the first question. It really is a little bit of a lot of things. And I think I summarized it earlier by saying I think we just executed pretty well across most of our markets. We had some good digital growth. We had some good business development growth and sort of a of little things that added to a strong relative performance versus our initial guidance.
As far as first quarter is concerned, as you know, we guide it down mid-single digits, and we're essentially pacing in line with that. I wish we had a better story. But that is what it is when I say that its general advertising economy right now particularly in the first quarter is somewhat choppy, and we've heard that from lots of immediate it's not radio story.
David Field
Okay. To add a little color to that Marci of the three months in the first quarter for what we've on the books, January does reflect to be weaker, February, March looks stronger at the moment. We've baked all that in our guidance that we gave you.
Marci Ryvicker - Wachovia Securities
Great, thank you.
Operator
The next question comes from Victor Miller with Bear Stearns. You may ask your question. Mr. Miller, please check your mute button.
David Field
Operator, why don't we move ahead and we'll circle back to Victor a little later.
Operator
Thank you. The next question comes from Lee Westerfield with BMO Capital. You may ask your question.
Lee Westerfield - BMO Capital
Thank you, gentlemen, and good evening. Two questions, if I may, Steve and David. First, you mentioned that national and local I think in the fourth quarter performed comparably and is a remarkable statistic for national, so I wonder if you could elaborate on your national fared? What seems to be stronger than most of the radio groups in the fourth quarter?
- To read the full transcript on Seeking Alpha, click here »
