Twitter misses ad revenue and user growth estimates; revenue forecast light

FILE PHOTO: The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2016. REUTERS/Brendan McDermid/File Photo

(Reuters) - Twitter Inc reported weaker-than-expected quarterly advertising revenue and user growth on Thursday and forecast revenue short of Wall Street targets, indicating that its turnaround plan has yet to bear fruit.

Still, the social networking site said it made "meaningful progress" toward its goal of reaching 315 million users and $7.5 billion in annual revenue by the end of 2023, and said user growth should accelerate in the United States and internationally this year.