* Cuts revenue growth range to 5-6 pct from 5-7 pct
* Shares fall as much as 4 pct
June 13 (Reuters) - Nielsen Holdings NV, best known for its TV ratings, lowered its full-year revenue forecast range as Europe’s economic crisis cuts into corporate spending.
The market research leader now expects revenue to grow 5 percent to 6 percent, down from its previous forecast of 5 percent to 7 percent.
“Changes in operating conditions for our Buy business outside the U.S. dictate that we reconsider the upper end of our previous guidance range,” Chief Executive David Calhoun said in a statement.
The company gets more than 50 percent of its revenue from outside the United States.
Nielsen’s ‘Buy’ segment provides retail transactional measurement data, consumer behavior information and analytics, and brought in more than 60 percent of the company’s $5.53 billion revenue last year.
“The main culprit is Western Europe in which the more discretionary ‘Insights’ product is apparently down at a double-digit rate currently,” Evercore Partners analyst Douglas Arthur wrote in a note.
The Insights business provides clients with in-depth analytics on their customers.
Nielsen’s significant exposure to Europe is likely to weigh on growth for more than just the second half of 2012, Arthur said.
Nielsen, which went public in January last year, competes with GfK SE, Ipsos and WPP unit Kantar in its Buy business.
The company has a market value of $10 billion and counts Coca Cola Co, News Corp and Procter & Gamble among its top clients.
The company reaffirmed its full-year earnings forecast of $1.76 to $1.82 per share.
Shares of the company, which have gained 11 percent since their market debut last year, fell as much as 4 percent in morning trade on Wednesday. They were trading down one percent at $27.52 on the New York Stock Exchange. New York-based