Earnings Per Share

3 Months Ended

Oct. 31, 2023

Earnings per share attributable to IDT Corporation common stockholders:

Earnings Per Share

Note 14— Earnings Per Share

Basic earnings per share is computed by dividing net income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive.

The weighted-average number of shares used in the calculation of basic and diluted earnings per share attributable to the Company’s common stockholders consists of the following:

	Three Months Ended October 31,
	2023	2022
	(in thousands)
Basic weighted-average number of shares	25,178	25,603
Effect of dilutive securities:
Stock options	3	12
Non-vested restricted Class B common stock	96	1
Diluted weighted-average number of shares	25,277	25,616

There were no shares excluded from the calculation of diluted earnings per share in the three months ended October 31, 2023 and 2022.