Ciena’s stock was soaring toward a 22-year high, as order growth and outlook on inventory overshadowed a big profit miss.

Shares of Ciena were trading lower after the optical networking equipment company reported disappointing quarterly earnings. For its fiscal fourth quarter ended Nov. 2, Ciena reported adjusted earnings of 54 cents,

Shares of software company Ciena (CIEN) surge despite missing earnings expectations for its fourth quarter. Ciena CFO James Moylan has spoken of "a very strong start" for orders in its current first quarter,

The optical networking expert didn't hit fourth-quarter results out of the ballpark, but it did set up ambitious goals for the years ahead.

Ciena reported adjusted earnings of 54 cents, missing Wall Street’s call for 65 cents, according to FactSet. Revenue of $1.12 billion