Net Income (Loss) Per Share (Tables)

9 Months Ended

Apr. 30, 2026

Computation of Basic and Diluted Net Income (Loss) Per Share of Common Stock

The following table presents the computation of basic and diluted net income (loss) per share of common stock (in millions, except per share data):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Net income (loss)	$	(177)	$	262	$	589	$	880

Weighted-average shares used to compute net income (loss) per share, basic	801		665		729		659
Weighted-average effect of potentially dilutive securities:
Convertible senior notes	—		6		—		9
Warrants related to the issuance of convertible senior notes	—		25		8		25
Employee equity incentive plans	—		11		7		15
Weighted-average shares used to compute net income (loss) per share, diluted	801		707		744		708

Net income (loss) per share, basic	$	(0.22)	$	0.39	$	0.81	$	1.33
Net income (loss) per share, diluted	$	(0.22)	$	0.37	$	0.79	$	1.24

Schedule of Antidilutive Securities Excluded From the Computation of Net Income (Loss) Per Share

The following securities were excluded from the computation of diluted net income (loss) per share of common stock as their effect would have been antidilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the applicable period (in millions):


	Three Months Ended April 30,		Nine Months Ended April 30,
	2026	2025	2026	2025


Employee equity incentive plans	30	4	6	5