Bank of New York Mellon Corp 10-Q form for quarterly period ended 2024-06-30, page 50: 
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|  1 | The Bank of New York Mellon Corporation (and its subsidiaries) |


Consolidated Income Statement (unaudited) (continued)

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|  1 | Net income applicable to common shareholders of The Bank of New York Mellon Corporation used for the earnings per share calculation                                                  | Quarter ended  |               | Year-to-date |               |               |    |       |    |    |       |    |       |
|  2 | June 30, 2024                                                                                                                                                                        | March 31, 2024 | June 30, 2023 |              | June 30, 2024 | June 30, 2023 |    |       |    |    |       |    |       |
|  3 | (in millions)                                                                                                                                                                        |                |               |              |               |               |    |       |    |    |       |    |       |
|  4 | Net income applicable to common shareholders of The Bank of New York Mellon Corporation                                                                                              | $              | 1,143         |              | $             | 953           | $  | 1,036 |    | $  | 2,096 | $  | 1,947 |
|  5 | Less: Earnings allocated to participating securities                                                                                                                                 | -              |               | -            |               | -             |    | -     | -  |    |       |    |       |
|  6 | Net income applicable to common shareholders of The Bank of New York Mellon Corporation after required adjustment for the calculation of basic and diluted earnings per common share | $              | 1,143         |              | $             | 953           | $  | 1,036 |    | $  | 2,096 | $  | 1,947 |

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|---:|:---------------------------------------------------------------------------------------------|:---------------|:--------------|:-------------|:--------------|:--------------|:--------|:--------|
|  1 | Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation | Quarter ended  |               | Year-to-date |               |               |         |         |
|  2 | June 30, 2024                                                                                | March 31, 2024 | June 30, 2023 |              | June 30, 2024 | June 30, 2023 |         |         |
|  3 | (in thousands)                                                                               |                |               |              |               |               |         |         |
|  4 | Basic                                                                                        | 746,904        |               | 756,937      |               | 787,718       | 751,961 | 795,512 |
|  5 | Common stock equivalents                                                                     | 4,692          |               | 5,331        |               | 3,097         | 4,909   | 3,738   |
|  6 | Less: Participating securities                                                               | -              |               | -            |               | (90)          | -       | (93)    |
|  7 | Diluted                                                                                      | 751,596        |               | 762,268      |               | 790,725       | 756,870 | 799,157 |
|  9 | Anti-dilutive securities (a)                                                                 | 578            |               | 1,604        |               | 7,059         | 1,266   | 5,824   |

(a)    Represents restricted stock, restricted stock units and participating securities outstanding but not included in the computation of diluted average common shares because their effect would be anti-dilutive.

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|---:|:----------------------------------------------------------------------------------------------------|:---------------|:--------------|:-------------|:--------------|:--------------|:---|:-----|:---|:-----|:---|:-----|
|  1 | Earnings per share applicable to common shareholders of The Bank of New York Mellon Corporation (a) | Quarter ended  |               | Year-to-date |               |               |    |      |    |      |    |      |
|  2 | June 30, 2024                                                                                       | March 31, 2024 | June 30, 2023 |              | June 30, 2024 | June 30, 2023 |    |      |    |      |    |      |
|  3 | (in dollars)                                                                                        |                |               |              |               |               |    |      |    |      |    |      |
|  4 | Basic                                                                                               | $              | 1.53          |              | $             | 1.26          | $  | 1.32 | $  | 2.79 | $  | 2.45 |
|  5 | Diluted                                                                                             | $              | 1.52          |              | $             | 1.25          | $  | 1.31 | $  | 2.77 | $  | 2.44 |

(a)    Results for the quarter ended June 30, 2023 and the six months ended June 30, 2023 were restated to reflect the retrospective application of adopting new accounting guidance in the first quarter of 2024 related to our investments in renewable energy projects using the proportional amortization method (ASU 2023-02). See Note 2 of the Notes to Consolidated Financial Statements for additional information.

See accompanying unaudited Notes to Consolidated Financial Statements.


50 BNY







Question: How did the net income applicable to common shareholders for Bank of New York Mellon change for the six months ended June 30, 2024, compared to the same period in 2023?
Answer: The net income applicable to common shareholders of Bank of New York Mellon increased from $1,947 million in the first half of 2023 to $2,096 million in the first half of 2024, representing an increase of approximately 7.6%.