Liberty Global PLC (LBTYA) shares are soaring 5.19% in Friday's trading session, despite reporting a significant Q2 loss. The surge comes as investors focus on the company's better-than-expected revenue and positive forward-looking statements.

The telecommunications giant reported a Q2 loss from continuing operations of $2.77 billion, or $8.09 per diluted share, a stark contrast to the profit of $324.1 million, or $0.84 per share, in the same period last year. However, the company's total consolidated revenue increased by 20% to $1.27 billion, surpassing analysts' expectations of $1.21 billion.

Investors seem to be encouraged by Liberty Global's strategic moves and outlook. The company reconfirmed all guidance metrics for its Liberty Telecom Operations and raised the adjusted EBITDAAL outlook for Telenet. Additionally, CEO Mike Fries announced plans to target $500-750 million in non-core asset disposals in 2025 and explore opportunities to separate remaining core operating units and/or assets. Fries also emphasized the company's continued role in altnet consolidation in the UK, despite changes in the Virgin Media O2 network spinoff plans.