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Netflix Jumps on Love From Goldman Sachs (Update 1)

Netflix's next big driver of growth is game consoles, which Terry believes Netflix could have additional upside from, though the primary use is still playing games. Tablets and smartphones, though they drive usage for Netflix, are not the primary reason customers sign up for Netflix.

NFLX Chart NFLX data by YCharts

Update: CEO Reed Hastings said on his Facebook page that consumers watched more than 4 billion of hours of video on Netflix over the past three months.

Shares are moving higher in after-hours on the news, gaining 2.6% to $177.11 according to Nasdaq.com.

-- Written by Chris Ciaccia in New York

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