The following table sets forth the computation of basic and diluted net income/(loss) per share for the years indicated (amounts in thousands, except for number of shares (or ADSs) and per share (or ADS) data):

	For the Years Ended December 31,
	2017		2018			2019		2019
	RMB		RMB			RMB		US$
Net income/(loss) per Class A and Class B ordinary share - basic:
Numerator:
Net income/(loss) attributable to Phoenix New Media Limited		37,472		(63,222	)		727,829		104,546
Denominator:
Weighted average number of Class A and Class B ordinary shares outstanding		573,096,266		580,516,101			582,275,800		582,275,800
Weighted average number of contingently issuable shares		1,690,621		568,352			—		—
Denominator used in computing net income/(loss) per share — basic		574,786,887		581,084,453			582,275,800		582,275,800
Net income/(loss) per Class A and Class B ordinary share — basic		0.07		(0.11	)		1.25		0.18
Net income/(loss) per Class A and Class B ordinary share - diluted:
Numerator:
Net income/(loss) attributable to Phoenix New Media Limited		37,472		(63,222	)		727,829		104,546
Denominator:
Denominator used in computing net income/(loss) per share — basic		574,786,887		581,084,453			582,275,800		582,275,800
Share-based awards		15,647,020		—			—		—
Denominator used in computing net income/(loss) per share — diluted		590,433,907		581,084,453			582,275,800		582,275,800
Net income/(loss) per Class A and Class B ordinary share — diluted		0.06		(0.11	)		1.25		0.18
Net income/(loss) per ADS (1 ADS represents 8 Class A ordinary shares):
Denominator used in computing net income/(loss) per ADS — basic		71,848,361		72,635,557			72,784,475		72,784,475
Denominator used in computing net income/(loss) per ADS — diluted		73,804,238		72,635,557			72,784,475		72,784,475
Net income/(loss) per ADS — basic		0.52		(0.87	)		10.00		1.44
Net income/(loss) per ADS — diluted		0.51		(0.87	)		10.00		1.44

The Company has included 1,690,621, 568,352 and nil contingently issuable shares in the denominator used in computing basic and diluted net income/(loss) per share for the years ended December 31, 2017, 2018 and 2019, respectively. These shares are contingently issuable upon the holders’ request without other substantive conditions and for no further consideration. There were 2,223,005, 35,183,115 and 34,445,604 options to purchase ordinary shares have been excluded from the computation of diluted net income/(loss) per share for the years ended December 31, 2017, 2018 and 2019, respectively, as their effects would be anti-dilutive.