Shares of Liberty Global PLC (LBTYB) plummeted 6.06% in intraday trading on Thursday after the company released its third quarter 2025 financial results, revealing challenges across its telecom markets.

The earnings report highlighted several areas of concern for investors. Liberty Global saw subscriber losses in some key segments, with fixed-line customer relationships declining by 10,200 and mobile subscribers dropping by 36,300 at the VMO2 joint venture. The company noted "challenging competitive environments across our Telecom markets," which pressured results.

While total consolidated revenue increased 12.9% year-over-year to $1.21 billion, this was largely due to acquisitions. On a rebased basis accounting for currency effects and M&A, revenue growth was just 1.0%. The VMO2 and VodafoneZiggo joint ventures both reported revenue declines on a rebased basis.

Despite the negative reaction, there were some bright spots in the report. Liberty Global highlighted improved broadband net adds across operations in the UK, Netherlands and Ireland. The company also implemented cost savings measures, with CEO Mike Fries stating they now expect 2026 negative Adjusted EBITDA to improve to $100 million, a 50% reduction from 2025 run-rate levels.