‘This’ earnings report really impressed Cramer

(Click for video linked to a searchable transcript of this Mad Money segment)

Often times individual investors will ask Cramer what to look for in an earnings report; that is, they want to know, when he pores over results what, exactly, grabs his attention.

Because so many different metrics influence Cramer, the Mad Money host thought the best way to illustrate the concept was to breakdown a recent earnings report that he found impressive.

And this earnings season – few other corporate releases impressed Cramer quite as much as Starbucks, which reported its best across-the-board Q3 results in its 42-year history.

"It contained almost everything that you'd want a company to deliver," Cramer said. Here's what Cramer liked:

Muharrem Oner | E+ | Getty Images

1. Same-store sales: "Over and over this quarter we have seen retailers, particularly restaurants, deliver extremely subpar results," Cramer explained. "We have seen disappointing numbers from the likes of McDonalds, Cheesecake Factory, Darden and most recently Panera and Dunkin' Donuts, which each reported about a four percent increase in same store sales. Starbucks reported almost double that number."

2. Revenue growth: "Many companies are satisfied with two to four percent revenue growth," Cramer said, "except Starbucks, which delivered a 13% year over year increase. That's incredible."

3. Margin expansion: The coffee chain widened its operating margin to 16.4 percent from 14.9 percent. "They did it through cost control and efficiency," Cramer said.

4. Global Outlook: Same-store sales were up 8 percent globally and up 9 percent in China and Asia Pacific. "And I think it can get even better," Cramer said

5. Pipeline: Moving forward, Starbucks has been testing new baked goods. It also announced that it's teaming up with Danone to jump into the yogurt business, with new Greek yogurt parfaits planned for cafes by next year. "And don't forget Teavanna," Cramer said

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All told, these are the kinds of results that a pro like Jim Cramer finds extremely impressive.

"If Starbucks were an engine you would say that it is hitting on all 9 cylinders even as it is an 8 cylinder engine," Cramer said. "This quarter will become the new benchmark that all other quarters will be measured against, and, those may be, indeed, the toughest comparisons of all. "

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