(Adds background, analyst estimates, organic growth figures)
July 24 (Reuters) - Interpublic topped Wall Street estimates for quarterly profit and raised its yearly forecast for a key revenue measure, as the U.S. advertising group benefits from higher client spending.
Interpublic - which owns Madison Avenue icon McCann - said organic revenue climbed 5.6 percent in the second quarter of 2018, growing at twice the pace analysts on average had expected, according to Thomson Reuters I/B/E/S.
New York-based Interpublic, one of the Big Four traditional ad groups, also increased its annual target for organic net revenue growth to a range of 4 percent to 4.5 percent.
The results come as traditional ad companies like IPG seek new ways to compete better with Google and Facebook, which have transformed the industry in recent years by reaching much larger audiences through online advertising.
Just this month, IPG said it would spend $2.3 billion to acquire data mining firm Acxiom Corp's marketing business, betting that datasets will help clients target consumers better.
Shares of Interpublic rose 2.4 percent to $22.50 in premarket trading on Tuesday.
The company said net income attributable to common stockholders rose 35 percent year-over-year to $145.8 million or 37 cents per share in the three months ended June 30.
On an adjusted basis, the company earned 43 cents per share, topping analysts' estimates of 42 cents per share.
Revenue climbed 9.4 percent to $2.39 billion. (Reporting by Shariq Khan and Vibhuti Sharma in Bengaluru; Editing by Sai Sachin Ravikumar)