Earnings Per Share

9 Months Ended

Sep. 30, 2023

Note 3—Earnings Per Share

The Company has two classes of common stock, Class A and Class B. Basic and diluted earnings (loss) per share attributable to common stockholders for Class A and Class B common stock were the same because they were entitled to the same liquidation and dividend rights.

The computation of basic and diluted earnings (loss) per share is as follows (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022*
Numerator:
Net income (loss)	$	39,352	$	15,869	$	81,617	$	(17,802)
Denominator:
Weighted-average shares outstanding—basic	489,447		487,963		489,195		486,168
Effect of dilutive securities	12,433		12,337		11,153		—
Weighted-average shares outstanding—diluted	501,880		500,300		500,348		486,168
Basic earnings (loss) per share	$	0.08	$	0.03	$	0.17	$	(0.04)
Diluted earnings (loss) per share	$	0.08	$	0.03	$	0.16	$	(0.04)
Anti-dilutive equity awards under stock-based award plans excluded from the determination of diluted earnings (loss) per share	4,916		7,823		4,916		—

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* Diluted loss per share attributable to the Company for the nine months ended September 30, 2022 excluded all potentially dilutive securities because there was a net loss for the period ended and the inclusion of these securities would have been anti-dilutive. Potentially dilutive securities excluded from the calculation of diluted loss per share were 28 million shares under stock-based award plans for the nine months ended September 30, 2022.