Despite missing earnings expectations, Google's profits could explode if the company figures out the best way to monetize YouTube, CNBC's Jim Cramer said Friday, before the stock opened at a record high.
"Google is a monster," Cramer said on "Squawk on the Street." "It's a beast."
Google reported a 22-percent revenue increase in its core Internet business when it posted quarterly earnings Thursday, missing analysts' expectations on profits.
Cramer said Google has so much cash it could buy rights to broadcast NFL games if it wanted to, and that the tech giant could even set up a pay-per-view framework for streaming matchups, he said. If Google's leadership figures out YouTube, earnings could double, he said. Google reported $16.86 billion in revenue during the last quarter.