Why can't we be friends, why can't we be friends?
Netflix disappointed the Street when it reported earnings after the bell Wednesday.
Netflix said earnings for its second quarter came in at 60 cents per share, down 30% from the same period last year but 4 cents ahead of the Street's expectations. Group revenues rose 26% to $4.923 billion, a figure that fell largely in-line with analysts' forecasts.
Netflix said its U.S. subscriber base fell by 126,000, the first quarterly decline in eight years, while it added just 2.83 million global customers, well shy of the 4.8 million expected by analysts the cover the group, which the company put down to recent price increases and its original content offering.
But when can Netflix and its investors go back to Netflix and chilling? Well, here's what Jim Cramer thinks.
"I think the answer is really now...this is really the problem. It's going to be time because now you've got this, but what happens when Friends goes, what happens when The Office goes? Even though they said they were single digit, now you're going to wait and see and wait and see means south," said Cramer.