EARNINGS (LOSS) PER SHARE

6 Months Ended

Nov. 30, 2022

11.	EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding restricted stock-based awards, stock options, and shares issuable under the employee stock purchase plan as applicable pursuant to the treasury stock method should Oracle have net income for the particular reporting period. The following table sets forth the computation of basic and diluted earnings (loss) per share:

	Three Months Ended November 30,					Six Months Ended November 30,
(in millions, except per share data)	2022		2021			2022		2021
Net income (loss)	$	1,741	$	(1,247	)	$	3,289	$	1,209
Weighted average common shares outstanding		2,695		2,694			2,690		2,731
Dilutive effect of employee stock plans		51		—			57		92
Dilutive weighted average common shares outstanding		2,746		2,694			2,747		2,823
Basic earnings (loss) per share	$	0.65	$	(0.46	)	$	1.22	$	0.44
Diluted earnings (loss) per share	$	0.63	$	(0.46	)	$	1.20	$	0.43
Shares subject to anti-dilutive restricted stock-based awards and stock options excluded from calculation⁽¹⁾		64		121			68		31

⁽¹⁾	These weighted shares relate to anti-dilutive restricted service based stock-based awards as calculated using the treasury stock method and contingently issuable shares pursuant to Performance Stock Options arrangements. Such shares could be dilutive in the future.