Axon Enterprise Inc.’s stock was up 17% as one of the top gainers in the S&P 500 on Wednesday after the Taser maker said budget cuts in Washington may help its business as it played up its prospects for international growth and its cloud-services business.

Axon Enterprise stock rose sharply on Wednesday after the taser maker reported fourth-quarter earnings that topped Wall Street forecasts and issued strong full-year guidance.Shares of Axon Enterprise surged 15% to $568.

Key Takeaways Axon Enterprise posted fourth-quarter earnings that topped analysts' estimates.The Taser maker also offered a strong outlook on demand for its defense products.Axon shares soared following the results and have nearly doubled in value over the last year.