Before we start celebrating the weekend, Jim Cramer is taking a look at Netflix (NFLX - Get Report) , which reported earnings last night and is Real Money's Stock of the Day, Marc Benioff's new book and what's going on in the markets.
Investors seemed pretty pleased about Real Money Stock of the Day Netflix's earnings, despite the missed subscription numbers.
Netflix reported third-quarter GAAP earnings per share of $1.47, beating Wall Street estimates of $1.03. Revenue was $5.25 billion, up 31% year-over-year and in line with estimates. Free cash flow was negative $551 million.
The company announced that it had added 6.8 million subscribers, missing its expectation of 7 million.
Cramer used Netflix as an example in his Real Money column Thursday morning.
He discussed NABAF stocks, or Not As Bad As Feared.
Here's what he had to say about Netflix:
"Can the earnings collapse when Disney (DIS - Get Report) and Apple (AAPL - Get Report) begin their streaming projects in earnest next month? Sure, but the strength in international, one of the few metrics that beat expectations -- 6.26 million versus 5.2 million -- may insulate the company from the assault of better-capitalized players. Netflix describes these competitors as "modest headwind to our near-term growth," minimizing concerns that kept popping up as gospel," he wrote.
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