The Trade Desk's stock price plummeted by 27% after-hours trading.

The Trade Desk's stock price plunged 27% after hours, confirming investors' fears. The company's fourth-quarter sales fell short of expectations, and its forecast for the next quarter added to investors' panic. Sales in the fourth quarter were $741 million, below the market's expectation of $759 million and the company's own forecast of at least $756 million. The company expects first-quarter sales of at least $575 million, below the market's expectation of $582 million. Adjusted earnings per share were 59 cents, slightly above the market's expectation of 57 cents. The Trade Desk, which began its restructuring in December, aims to improve its connected TV, retail media, and other businesses. A survey by Wedbush analyst found that The Trade Desk's spending grew modestly in the fourth quarter. Chief executive Jeff Green expressed "disappointment" over the missed expectations. It remains to be seen whether the company's restructuring plan will turn things around and whether sales will rebound.