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Twitter shares fall on disappointing revenue forecast

A portrait of the Twitter logo in Ventura, California December 21, 2013.

Twitter Inc shares fell 12 percent as the microblogging company gave a disappointing revenue forecast and reported slower user growth than expected, a sign that more time is needed for a turnaround.

Twitter on Tuesday forecast fourth-quarter revenue within a range of $695 million and $710 million, well below analysts' average estimate of $739.7 million according to Thomson Reuters I/B/E/S.

Twitter had 320 million average active monthly users in the third quarter, up from 316 million in the prior quarter, missing...