cnbcs jim cramer on wednesday advised investors to buy shares of netflix arguing the stocks postearnings decline is creating an attractive purchase point when you see netflix pulling back after a very robust set of numbers and lots of pricetarget boosts where management laid out a compelling longterm strategy you need to look at it as gift  to buy not sell the mad money host said after the streaming giant closed wednesdays session down 217 at 62514 per share while netflix beat wall streets estimates on earningsper share and subscriber additions cramer acknowledged the thirdquarter results were not perfect he pointed to netflixs cautious guidance for the current period and the fact subscriber additions in the us and canada were basically flat compared to the yearago quarter i dont love that the business seems to be topping out in north america but i prefer to take a glass half full approach because netflix is absolutely killing it overseas cramer said describing the companys tuesday evening report as a wakeup call for anyone who was sleeping on netflixs international business investors have focused in on subscriber growth as the key metric to evaluate netflix for more than a decade cramer said however cramer said he thinks monetization will be become increasingly important noting managements plan to grow margins in the years ahead netflix also is pushing into video games which if successful would deliver the company a much larger total addressable market cramer said in addition the mad money host said netflixs merchandizing efforts related to its most popular content such as the current smash hit squid game may be worthwhile even if hed go about it differently on the tuesday earnings call coceo reed hastings mused about how in three years when the next sensation like squid game comes out the want to have related gaming options as well as consumer products that they could sell right out of the gate cramer said comparing the strategy to disney i like it but id rather have them license it he said