OSLO, May 24 (Reuters) - Norwegian advertising firm Adevinta posted a higher-than-forecast first-quarter core profit on Tuesday, although revenue growth lagged estimates as auto dealers cut ad spends due to a global semiconductor shortage hitting production.

The world's largest classified ads company reported adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 137 million euros ($146.1 million) for the three months ended March 31, up from 136 million euros a year-ago. Analysts on average had expected EBITDA of 120 million euros, Refinitiv data showed.

A shortage of semiconductors has constrained global car production, hampering sales and thus advertising, leading to Adevinta's German Mobile.de unit reporting a 3% revenue drop.

Adevinta's revenue rose 5% year-on-year to 387 million euros for the quarter, lagging analysts' average forecast of 409 million euros as well as the company's longer-term goal of expanding by 15% annually.

"Despite the current challenging environment, I am confident we will achieve the financial targets that we set for this year and our mid-to-long-term targets," Chief Executive Officer Rolv Erik Ryssdal said in a statement.

The company maintained its forecast of a "low double-digit revenue growth in core markets" this year and underlying EBITDA, excluding discontinued operations, of 575 million to 600 million euros.

Adevinta expects revenue and profits this year to show "sequential improvement" quarter by quarter, it added.

($1 = 0.9378 euros) (Reporting by Terje Solsvik; Editing by Kim Coghill and Rashmi Aich)