(Reuters) - Accenture ( ACN ) raised the lower end of its annual revenue forecast on Thursday, betting on growing demand for its services to help clients integrate AI-powered tools into their operations, sending the company's shares up 3% before the bell.

Strong demand for large-scale projects in cloud migration, artificial intelligence-led digital transformation and data security has helped companies such as Accenture ( ACN ).

Accenture ( ACN ) has secured several large projects and partnered with banks, telecommunication firms and sports firms among others.

The company now expects annual revenue to grow between 5% and 7%, compared with its prior forecast of 4% to 7%. Analysts had expected revenue growth of 5.7%, according to data compiled by LSEG.

In fiscal 2024, Accenture ( ACN ) invested about $6.6 billion in acquisitions to strengthen its position in the IT industry, improve management of large-scale projects and bolster AI capabilities.

The company's GenAI business recorded new bookings of $1.4 billion in the second quarter.

Accenture ( ACN ) reported second-quarter revenue of $16.66 billion, compared with the average analyst estimate of $16.62 billion, according to data compiled by LSEG.