(Adds details on results, compares with estimates)
Feb 15 (Reuters) - U.S. advertising company Omnicom Group Inc on Thursday reported a fourth-quarter revenue that missed Wall Street estimates, as many domestic clients curbed marketing budgets and due to stiffer competition from consulting firms.
Omnicom’s organic revenue rose 8.2 percent in European markets, fell 0.8 percent in North America and 0.7 percent in the United Kingdom.
Consulting firms such as Accenture and IBM have taken market share away from traditional advertising companies in recent years by expanding their marketing divisions.
Omnicom, whose clients include Apple, McDonald’s Corp and Adidas, said net income attributable to the company fell to $254.4 million, or $1.09 per share, in the quarter ended Dec. 31, from $350.3 million, or $1.47 per share, a year earlier.
The New York-based company said it incurred a charge of $106.3 million in the reported quarter due to changes in the U.S. tax law.
Revenue fell 1.5 percent to $4.18 billion, missing analysts’ estimates of $4.21 billion, according to Thomson Reuters I/B/E/S.
Excluding items, the company earned $1.55 per share, beating estimates of $1.54. (Reporting by Sonam Rai in Bengaluru; Editing by Savio D’Souza and Shounak Dasgupta)