Every raise on the damage roll inflicts a wound. Wounded Extras are removed from play. They're dead, injured, or otherwise out of the fight.
Wild Cards can take three wounds and still function. If another wound would be caused after that, they're Incapacitated (see below). Wild Cards never have more than three wounds–anything beyond that is just considered three wounds and Incapacitated (see below).
Timing: Characters sometimes take multiple hits on the same Action Card. Resolve each damage roll separately and completely before moving on to the next (including any Soak rolls).
Savage Worlds Deluxe Edition p. 77