Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: 2010 IPO BroadSoft (Nasdaq: BSFT) defied a market sell-off and popped 24% in intraday trading today after the company issued better-than-expected earnings and guidance.

So what: The stock plunged 19% Friday as talk that communications demand has been weak was exacerbated by fears that the economy is slowing. Non-GAAP EPS of $0.29 was almost triple the $0.10 consensus estimate and reversed a loss of $0.03 per share in the year-earlier quarter. Revenue of $32 million grew an impressive 63% year over year and was well ahead of the $29 million expected by some analysts.

Now what: For the current quarter, management expects non-GAAP EPS of $0.20 to $0.23 and revenue of $31 million to $33 million, shaming consensus expectations of $0.10 and $29 million, respectively. For 2011, management raised guidance to non-GAAP EPS of $0.90 to $0.95 and revenue of $127 million to $130 million, massively above consensus expectations of $0.66 and $125 million, respectively. It's also far head of non-GAAP EPS of $0.48 in 2010. In May, management had guided 2011 to non-GAAP EPS of $0.67 to $0.77 and revenue of $121 million to $125 million.

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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.