Robinhood Markets Inc. announced on Wednesday that its net loss in the fourth trimester of fiscal 2022 came in at $166 million or $0.19 per diluted share, improving significantly from a net loss of $423 million or $0.49 per diluted share recorded in the same timeframe a year prior. Total net revenues in the quarter ending December 31 rose 5% year over year to $380 million.

For the whole year, net loss stood at $1.03 billion or $1.17 per diluted share, shrinking from $3.69 billion or $7.49 per diluted share seen in the same period in 2021. Full-year 2022 total net revenues tumbled around 25% on an annual level to land at $1.36 billion.

"We continued to deliver on our product roadmap and kept our costs lean. On the capital management front, our Board authorized us to pursue purchasing most or all of our shares that Emergent Fidelity Technologies bought in May 2022," CFO Jason Warnick said. Robinhood's shares jumped 6.21% in the after-hours trade following the release.