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Earnings Per Share

9 Months Ended

Apr. 30, 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:

		2023				2022				2023				2022
		Three Months Ended April 30,								Nine Months Ended April 30,
		2023				2022				2023				2022
		(in thousands)
Basic weighted-average number of shares			25,518				25,901				25,544				25,706
Effect of dilutive securities:
Stock options			7				301				9				575
Non-vested restricted Class B common stock			87				3				36				174

Diluted weighted-average number of shares			25,612				26,205				25,589				26,455

There were no shares or options excluded from the calculation of diluted earnings per share in the three and nine months ended April 30, 2023 and 2022.