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Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Jul. 31, 2018 | [1] | Apr. 30, 2018 | [2] | Jan. 31, 2018 | [3] | Oct. 31, 2017 | Jul. 31, 2017 | [4] | Apr. 30, 2017 | [5] | Jan. 31, 2017 | Oct. 31, 2016 | [6] | Jul. 31, 2018 | Jul. 31, 2017 | Jul. 31, 2016
Selected Quarterly Financial Data (Unaudited) [Abstract] |  |  |  |  |  |  |  |  |  |  |
Revenues | $ 392,647 | $ 365,410 | $ 395,883 | $ 393,555 | $ 394,987 | $ 370,035 | $ 367,556 | $ 369,151 | $ 1,547,495 | $ 1,501,729 | $ 1,496,261
Direct cost of revenues | 325,133 | 307,165 | 337,229 | 336,510 | 337,062 | 314,704 | 310,913 | 313,029 | 1,306,037 | 1,275,708 | 1,246,594
Income (loss) from operations | 10,468 | (1,693) | (480) | 83 | 3,737 | (6,502) | 3,128 | 5,186 | 8,378 | 5,549 | 26,203
Net (loss) income | 8,536 | (3,230) | 1,690 | (1,797) | (9,458) | (4,452) | 1,257 | 22,294 | 5,199 | 9,641 | 25,358
Net (loss) income attributable to IDT Corporation | $ 8,242 | $ (3,458) | $ 1,516 | $ (2,092) | $ (9,841) | $ (4,775) | $ 875 | $ 21,918 | $ 4,208 | $ 8,177 | $ 23,514
Net (loss) income per share -basic | $ 0.33 | $ (0.14) | $ 0.06 | $ (0.08) | $ (0.41) | $ (0.21) | $ 0.04 | $ 0.97 | $ 0.17 | $ 0.35 | $ 1.03
Net (loss) income per share - diluted | $ 0.33 | $ (0.14) | $ 0.06 | $ (0.08) | $ (0.41) | $ (0.21) | $ 0.04 | $ 0.96 | $ 0.17 | $ 0.35 | $ 1.03
[1] | Included in revenues was $9.5 million related to a change in estimate for recognizing certain breakage revenue. The Company recorded breakage revenue when the likelihood of the customer exercising its remaining rights became remote. In the fourth quarter of 2018, the Company changed when it generally deemed the likelihood remote from 24 or 36 months of no activity to 12 or 24 months of no activity. Included in income from operations was severance expense of $0.3 million and other operating losses, net of $0.4 million.
[2] | Included in loss from operations was severance expense of $3.7 million.
[3] | Included in net income was a benefit from income taxes of $3.3 million for an anticipated AMT credit refund.
[4] | Included in net loss was income tax expense of $11.1 million from an increase in the valuation allowance on deferred tax assets.
[5] | Included in loss from operations was expense of $10.1 million related to a legal settlement and mutual release, including legal fees incurred in the quarter.
[6] | Included in net income was a benefit from income taxes of $16.6 million from the full recognition of certain deferred tax assets.

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