According to CoinMeta, Cloudflare, Inc. ( NYSE : NET )'s stock price rose by more than 16% in pre-market trading on Friday, as the company announced second-quarter financial results and third-quarter guidance that exceeded expectations, further reinforcing the view of increasing demand for its networking and security products. The company reported adjusted earnings per share of 29 cents for the second quarter and revenue of $696.1 million, both of which surpassed market expectations. Cloudflare expects annual revenue to be between $2.86 billion and $2.87 billion, with adjusted earnings per share forecasts raised to $1.25 to $1.26. CrowdStrike Holdings, Inc. ( NASDAQ : CRWD ) also released strong financial reports in various areas of network security, demonstrating broad demand in the security market. CrowdStrike's annual recurring revenue reached $5.51 billion, a year-on-year increase of 24%.