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NCR spikes 18% after earnings and revenue top expectations

Source: NCR

Shares of global tech company NCR soared more than 14 percent Wednesday, lifted by a better-than-expected earnings report.

The stock saw its best day since July 29, 2002. The stock traded well over its 30-day average volume of 689,000 shares, with more than 5.5 million shares changing hands during the session.

On Tuesday, the firm reported quarterly results that surpassed Wall Street expectations.

The company also raised its 2016 revenue and adjusted earnings per share guidance, due to "accelerating revenue trends" chairman and CEO Bill Nuti said in a statement.

NCR attributed the increase in revenue to strong growth in its software, services and hardware segments. Revenues from all three segments were ahead of consensus estimates.

Additionally, RBC raised its price target on the firm to $36 a share from $35 a share.

—CNBC's Gina Francolla contributed to this report.