July 24 (Reuters) - Advertising group Interpublic

topped market estimates for second-quarter profit on

Wednesday, boosted by a rebound in marketing spend by companies

across key markets including the United States and Europe.

Shares of the company, however, fell 2.8% after it tightened

its full-year organic growth forecast to about 1%, from its

prior expectations of 1% to 2% growth.

After an extended period of muted ad spend by brands due to

macro uncertainties and higher interest rates, companies have

been ramping up marketing investments, particularly in the run

up to key global events such as the Paris Olympics.

Global advertising revenue is expected to grow 7.8% in 2024

to $989.8 billion, according to a forecast from WPP's ( WPP )

media investment unit, GroupM. That compares to a 5.3% rise it

had projected in December.

New York-based Interpublic, home to global communications

and advertising agencies including Mediabrands, MullenLowe and

Weber Shandwick, reported an adjusted profit of 61 cents per

share in the second quarter ended June 30, above analysts'

estimates of 59 cents, LSEG data showed.

Its net revenue was roughly flat at $2.33 billion, in line

with analysts' average estimate. Revenue in the United States

climbed 1.3%, while it jumped 6.3% in Continental Europe. Total

international growth came in at 2.6%.

Rival Omnicom ( OMC ) last week also topped quarterly profit

and revenue expectations, thanks to strong growth in its

advertising and media segment.

(Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini

Ganguli)