2016.10.2704:09:00UTC+00NCR spikes 18% after earnings and revenue beat expectations

Tech company NCR's shares surged more than 14 percent on Wednesday, hitting its biggest daily increase 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.

NCR on Tuesday beat Wall Street's expectations when it reported higher quarterly results.

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.

Strong performance from its software and hardware segments boosted NCR's revenue.