Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period.

Potentially dilutive shares outstanding include the dilutive effect of unvested restricted stock units (“RSUs”) and employee stock purchase plan (“ESPP”) rights (collectively referred to as “equity awards”). Potentially dilutive shares whose effect would have been antidilutive are excluded from the computation of diluted net income (loss) per share.

The dilutive effect of equity awards is calculated based on the average stock price for each fiscal period, using the treasury stock method. Under the treasury stock method, the amount the employee must pay for purchasing shares under the ESPP and the amount of stock-based compensation expense for future service that we have not yet recognized are collectively assumed to be used to repurchase shares.

For the fiscal quarter ended August 4, 2024, diluted net income (loss) per share excluded the potentially dilutive effect of 159 million shares of weighted-average equity awards outstanding as their effect was antidilutive.

The following is a reconciliation of the numerators and denominators of the basic and diluted net income (loss) per share computations for the periods presented:


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	August 3, 2025		August 4, 2024		August 3, 2025		August 4, 2024

	(In millions, except per share data)
Numerator:
Income (loss) from continuing operations	$	4,140	$	(1,432)	$	14,608	$	1,963
Loss from discontinued operations, net of income taxes	—		(443)		—		(392)


Net income (loss)	$	4,140	$	(1,875)	$	14,608	$	1,571

Denominator:
Weighted-average shares outstanding - basic	4,714		4,663		4,705		4,606
Dilutive effect of equity awards	146		—		136		156
Weighted-average shares outstanding - diluted	4,860		4,663		4,841		4,762




Basic income (loss) per share:
Income (loss) per share from continuing operations	$	0.88	$	(0.31)	$	3.10	$	0.43
Loss per share from discontinued operations	—		(0.09)		—		(0.09)
Net income (loss) per share	$	0.88	$	(0.40)	$	3.10	$	0.34

Diluted income (loss) per share:
Income (loss) per share from continuing operations	$	0.85	$	(0.31)	$	3.02	$	0.41
Loss per share from discontinued operations	—		(0.09)		—		(0.08)
Net income (loss) per share	$	0.85	$	(0.40)	$	3.02	$	0.33