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: Shares of 8x8 (NYSE:EGHT) rose as much as 16% Thursday after the cloud-based contact center specialist announced inline fiscal first-quarter 2015 results.

So what: Quarterly revenue increased 30% year over year, to $37.9 million, which translated to adjusted net income of $3 million, or $0.03 per diluted share. Both figures were roughly in line with expectations, which called for earnings of $0.03 per share on slightly lower sales of $37.5 million.

In addition, 8x8 told investors they now expect fiscal 2015 revenue to grow by "at least 25%" over last year, with adjusted net income as a percentage of revenue in the "high-single digit range." Again, both figures are roughly in line what what Wall Street was modeling.

Now what: So why the pop? First, it helps that shares had fallen by around 30% during the previous three months going into yesterday's close, thanks largely to a mixed bag when 8x8 announced its fiscal fourth-quarter earnings in May. At the time, management expected revenue to grow "approximately 25%" in fiscal 2015, so -- without being too specific -- today's verbiage represents a slightly more optimistic tone. As it stands, though, I personally prefer watching this one from the sidelines for now.