Absolutely. Just navigate to Netflix.com, log in to your account, pick a movie from your menues, and play it in the browser. Easy to switch the display to full screen. Use earphones, as the built in speakers are poor.
Silly me! I purchased the Acer Chromebook for my 7 year old son but was terribly disappointed when I downloaded Netflix from the Chrome Store but it didn't work. Today I was just browsing and decided to ask the question again. There it was. Something I never thought to do...watch the stream in the browser! Works perfectly. Thank you~