Accenture (ACN) is set to announce its second-quarter earnings for the 2024 fiscal year before the bell on Thursday, with the company expected to offer more details on demand for bookings and how it could be positioned to benefit from the artificial intelligence (AI) boom.

Analysts project Accenture's revenue to come in at $15.86 billion for the second quarter of fiscal 2024, down from the previous quarter, but up slightly from the year-ago period, according to estimates compiled by Visible Alpha.

Net income is expected to be $1.72 billion, a decline from $1.74 billion in the fiscal second quarter of 2023, while diluted earnings per share (EPS) are projected at $2.65, compared to $2.69 in the same period a year earlier.

	Analyst Estimates for Q2 FY 2024	Q1 FY 2024	Q2 FY 2023
Revenue	$15.86 billion	$16.22 billion	$15.81 billion
Diluted Earnings Per Share	$2.65	$3.27	$2.69
Net Income	$1.72 billion	$2.12 billion	$1.74 billion

Key Metrics: New Bookings

Accenture reported $18.4 billion in new bookings in the first quarter of 2024, with 47% coming from consulting bookings and 53% being from managed services.

CEO Julie Sweet noted on the previous quarter's earnings call that Accenture saw a continuing decline in discretionary spending, negatively impacting its consulting segment.

The company will report new bookings for the second quarter and could provide color on how the industry landscape has impacted company spending and bookings.

Company executives could also provide insight into how new bookings will affect guidance for the third quarter of 2024.

Business Metrics: AI Impact

Accenture has benefited from integrating generative AI (GenAI) into its offerings. The company reported more than $450 million in new bookings related to GenAI in the first quarter.

Wedbush analysts raised their price target for the stock, saying that "while quarterly results may be weak," they anticipate "GenAI traction, post ongoing $3B investment in training, accelerators as well as applications."

Accenture's "clients across key sectors, which include banking and insurance, consumer goods, retail and software and platforms, are beginning to see potential increase in revenues through their integration with GenAI," Wedbush analysts highlighted.

The company announced last year that it would invest $3 billion in its Data & AI practice over three years. Accenture could provide more details about how its investments in AI are impacting the company and its customers.

William Blair analysts noted that Accenture’s strategy is "to be a provider of choice in generative AI." They added that the company could be well positioned to benefit amid the AI boom given "the company’s ability to offer truly end-to-end services, from strategy and consulting to implementation and running operations."

Accenture shares gained 0.6% to close Wednesday's trading session at $380.44. The stock has gained nearly 50% over the past year.

UPDATE—March 20, 2024:This article has been updated with current share price information.