Comcast Corporation ( CMCSA ) reported better-than-expected second-quarter results on Thursday, driven by steady execution across its media, connectivity, and theme park businesses.

The Philadelphia-based company reported a quarterly growth of 2.1% year-over-year (Y/Y) to $30.31 billion, beating the analyst consensus estimate of $29.80 billion.

Adjusted earnings per share came in at $1.25, beating analyst consensus estimates of $1.17. Its media segment posted revenue growth of 1.8% Y/Y to $6.44 billion.

Also Read: Comcast Hikes Peacock Prices Again: Will You Pay $11 A Month For Ads?

Peacock’s paid subscribers remained steady quarter-over-quarter (Q/Q) at 41 million despite a seasonally light sports quarter, driven in part by the success of Love Island USA, while revenue grew by 18% Y/Y to $1.2 billion.

Studios’ revenue increased by 8.0% Y/Y to $2.43 billion, primarily due to higher content licensing and theatrical revenue due to the successful performance of recent releases, including How to Train Your Dragon.

Theme Parks revenue increased by 18.9% Y/Y to $2.35 billion due to higher revenue at domestic theme parks, including the successful opening of Epic Universe, and international theme parks, which include the positive impact from foreign currency.

Connectivity & Platforms adjusted EBITDA grew 0.5% Y/Y to $8.53 billion, with a margin decline of 10 bps to 41.8%.

Comcast ( CMCSA ) said it generated $4.50 billion in free cash flow during the quarter. The company paid dividends totaling $1.2 billion and repurchased 49.3 million of its shares for $1.7 billion, resulting in a total return of capital to shareholders of $2.9 billion.

Despite these gains, Comcast ( CMCSA ) continued to face headwinds in its core broadband and pay-TV segments. The company lost 226,000 broadband customers during the quarter, reflecting mounting pressure from telecom rivals. AT&T ( T ) and Verizon reported 401,000 and 293,000 broadband net additions, respectively.

Comcast ( CMCSA ) also lost 325,000 video subscribers as consumers continued to shift to streaming platforms like Netflix ( NFLX ) . Total domestic wireless line net additions reached 378 thousand.

Comcast ( CMCSA ) Chairman and CEO Brian L. Roberts highlighted strong quarterly performance, citing a 3% rise in adjusted EPS and $4.5 billion in free cash flow. He emphasized early gains from Comcast’s new residential broadband strategy and celebrated the wireless segment’s best-ever quarter with 378,000 new lines added. Roberts also noted mid-single-digit growth in revenue and adjusted EBITDA for Business Services.

In the Content and Experiences segment, Roberts pointed to 6% revenue growth, driven by the launch of Epic Universe, which boosted traffic at Universal Orlando Resort. He also credited Peacock’s momentum to premium content and live sports, and said the upcoming addition of NBA coverage will strengthen its market position.

Price Action: Comcast ( CMCSA ) stock was trading higher by 3.73% to $33.71 premarket at last check Friday.

Read Next:

What’s Fueling PayPal’s Post-Earnings Skepticism?