Jim Cramer Thinks Buyers Will Come Back To Netflix Stock
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On Wednesday morning, Jim Cramer shared his thoughts on Netflix, Inc. (NASDAQ: NFLX) earnings, which reported Tuesday after the market closed.
What Happened: Netflix reported earnings of $1.74 per share and $6.44 billion in the third quarter. EPS came in below consensus, while revenue beat the Street estimate of $6.38 billion.
Cramer told CNBC viewers “just go buy it.”
He's surprised to see shares fall after reporting what he called a good quarter: “Was anyone on the call with negative things?”
See Also: Netflix Reports Mixed Q3 Earnings, Slower User Growth
Cramer believes the conference call acted as a huge advertisement for the company as it highlighted upcoming content for the streaming provider.
“I mean holy cow,” Cramer said to the reaction of sellers of the stock, calling this “another assault on Netflix.”
Ultimately, Cramer said maybe the buyers will come back to Netflix after realizing this was a good quarter.
NFLX Price Action: Shares of Netflix traded down 5% to $499.20 prior to Wednesday’s open.
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