Earnings Per Share

9 Months Ended

Apr. 30, 2024

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 April 30,				Nine Months Ended April 30,
	2024		2023		2024		2023
	(in thousands)
Basic weighted-average number of shares		25,345		25,518		25,233		25,544
Effect of dilutive securities:
Stock options		—		7		1		9
Non-vested restricted Class B common stock		171		87		146		36
Diluted weighted-average number of shares		25,516		25,612		25,380		25,589

There were no shares excluded from the calculation of diluted earnings per share in the three and nine months ended April 30, 2024 and 2023.