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.
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 >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV