UPDATE 1-Omnicom profit tops estimates on strong domestic advertising
* First-quarter earnings $0.09/share vs est $0.08
* Revenue $3.64 bln vs est $3.65 bln
July 18 (Reuters) - Omnicom Group Inc, the largest U.S. advertising company, reported a slightly better-than-expected 2.4 percent rise in quarterly profit, mirroring a similar increase in revenue in its home market.
Domestic revenue rose to $1.9 billion in the second quarter, accounting for 52 percent of total revenue, as advertising spending in the United States gained momentum.
The company, home to agencies such as BBDO Worldwide and DDB Worldwide, said total revenue rose 2.1 percent to $3.64 billion.
Analysts on average had expected revenue of $3.65 billion, according to Thomson Reuters I/B/E/S.
While global advertising spending is expected to improve in the second half of the year, analysts expect Europe to remain weak for Omnicom and rivals WPP and Publicis Groupe .
France-based Publicis reported a 5 percent rise in quarterly sales on Thursday, helped by strength in North America.
Media forecasting agency ZenithOptimedia last month cut its 2013 forecast for world advertising spending for the second time, blaming recession in the euro zone and heightened security concerns in South Korea. It now expects a 3.5 percent growth in global advertising spending.
Omnicom said net income rose to $289.5 million, or $1.09 per share in the second quarter, from $282.7 million, or $1.02 per share, a year earlier.
Analysts on average expected earnings of $1.08 per share.
Revenue from international markets rose 1.9 percent to $1.73 billion, accounting for about 42 percent of the total revenue. It had risen 1.2 percent in the first quarter after three quarters of decline.
Shares of the company, which also owns the "Got Milk?" campaign creator Goodby, Silverstein & Partners, have risen about 14 percent in the quarter. They closed at $66.77 on the New York Stock Exchange on Wednesday.