Jim Cramer is keeping an eye on Netflix (NFLX) as the video streaming service is set to post Q2 earnings after the closing bell on Wednesday, July 15th. Cramer says that even if Netflix misses its earnings numbers, Wall Street will still like the stock because ‘Netflix is becoming the de facto TV for the world.’ Netflix reported earnings of $1.39 per share in the same period one year prior but is expected to have a serious drop in earnings for this coming quarterly report. Cramer, having previously said that ‘Netflix is about subscriber sign-ups and no longer earnings,’ says that ‘international sign-ups are very good.’ He says that people are ‘talking about 2020 numbers and having 400 million subscribers’ and describes the situation as being one in which ‘analysts want you to be in it ahead of the quarter, they want you to be in it after the quarter.’ Cramer says that he ‘can completely understand’ why investors want to get into Netflix, but suggests that investors ‘maybe wait, buy half,’ and ‘bet that somebody has moved up numbers so aggressively will be disappointed.’ But Cramer says he understands people’s ‘desire to own it’ and that he ‘will never fight you from owning Netflix,’ with extra emphasis on the word ‘never.’
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