April 16 (Reuters) - Omnicom Group ( OMC ) beat Wall

Street estimates for first-quarter profit and revenue on

Tuesday, helped by solid demand for its advertising services

amid major political and sports events.

The results come as macroeconomic conditions ease and events

such as the U.S. presidential election and the summer Olympics,

beginning in July, are set to dial up advertisement and

marketing spending.

Omnicom ( OMC ), which competes with The Interpublic Group of

Companies and UK's WPP ( WPP ), is one of the world's

biggest integrated advertising and communications firms with

more than 5,000 customers.

On an adjusted basis, the company earned $1.67 per share,

compared with expectations of $1.55, according to LSEG data.

Omnicom's ( OMC ) revenue stood at $3.63 billion in the quarter

ended March 31, compared with analysts' estimate of $3.61

billion.

Ad agency Magna Global expects a 9% increase in U.S. ad

spending in 2024, reaching $369 billion, with a projected surge

of over 13% in political ad expenditure.

Omnicom ( OMC ) is one of the six global advertising companies

taking part in an early beta test of Walt Disney's new

advertising tool that seeks to harness artificial intelligence.