CNBC Press Releases

When: AUGUST 13TH AT 1:30PM ET
Where: CNBC'S "MAD MONEY W/JIM CRAMER"

Following is the unofficial transcript of a CNBC interview with Google Inc. Chairman & CEO Eric Schmidt on "Mad Money w/Jim Cramer." 

All references must be sourced to CNBC's "Mad Money w/Jim Cramer."

CRAMER: I'M CRAMER, COMING TO YOU LIVE, "MAD MONEY: AT THE HALF." THERE'S ONE STOCK I'VE CHAMPIONED MORE THAN ANY OTHER SINCE BECOMING A TV PERSONALITY THAT STOCK IS GOOGLE. I CALLED THIS A BUY FROM THE MOMENT IT CAME PUBLIC. I SAID IT WOULD BE A TRIPLE.I WAS COMPLETELY WRONG. IT WAS UP A SEVEN-FOLDER. MY RECORD ON GOOGLE WASN'T PERFECT BUT NOW WHEN I SAY IT'S TIME TO BUY THIS ONE AND YES, HAND OVER FIST. IT'S PROBABLY A GOOD IDEA TO LISTEN UP AND LISTEN GOOD. GOOGLE GOT CREAMED AFTER ITS SO-CALLED BAD QUARTER BACK ON JULY 17th, I THOUGHT THE DECLINE WAS STUPID. I WOULD DECLARE IT TO BE AS STUPID AS BRICKS OR PLYWOOD. BECAUSE OF THESE PANICERS, YOU CAN PICK IT UP FOR ABOUT 500 BUCKS A SHARE. THAT'S A STEAL. TECH IS NOW BACK IN FAVOR. THANKS TO A DECLINE OF OIL, AND THE TRIUMPH OF DEFLATION OVER INFLATION THIS WAS A STUPID SELL OFF FOR USAT FANS. THE BEARS READ THE QUARTER THE WAY THEY WANT TO. AND NOW THE STOCK IS TRADING AT 20 TIMES MY FORWARD EARNING ESTIMATES DESPITE TORRID 30% LONG-TERM GROWTH RATE. THE ISSUE IS, AM I TOO BULLISH? ARE THE COSTS OF TRAFFIC GOING UP? IS THERE MORE EARNING CYCLICALITY THAN I THOUGHT? HAS DOMESTIC HIT A WALL? IS THE MANAGEMENT TEAM NOT INVESTOR FRIENDLY ENOUGH. IS ANDROID THE BIG NEW PHONE FOR REAL?THERE ARE QUESTIONS WE NEED ANSWERED BEFORE I GIVE IT TWO THUMBS UP. THAT'S WHY I'M THRILLED TO BRINGON ERIC SCHMIDT. WE WERE NOT DOING THAT TWO MINUTE CEO DRILL THAT TV IS INFAMOUS FOR. THIS MAN HAS CHANGED THE WORLD. A WORLD THAT I BELIEVE IS DIVIDED INTO BG AND AG YOU FIGURE OUT WHAT THOSE MEAN. MR. ERIC SCHMIDT.WELCOME.

SCHMIDT: I THINK THIS IS YOURS.

CRAMER: YOU GOT THE TOYS.

SCHMIDT: YOUR OFFICE LOOKS LIKE THE ONES AT GOOGLE.

CRAMER: THEY'VE THE SPIRIT. THANK YOU. YOU HAVE A STOCK THAT'S AT 500 BUCKS. I GET STOPPED ALL THE TIME BY PEOPLE WHO KNOW I LOVE GOOGLE AND SAY, WILL YOU GET THE GUY TO SPLIT THE STOCK. I CAN'T AFFORD 500 BUCKS WHY WON'T THEY SPLIT IT. TELL ME HOW STUPID THAT IS.

SCHMIDT: THIS IS NEW YORK, THEY CAN AFFORD $500.

CRAMER: I LIKE THAT BUT I ACTUALLY I GET THIS QUESTION WHEN I AM IN NORTH CAROLINA, TOO.

SCHMIDT: WE'RE NOT GOING TO SPLIT IT. PEOPLE THINK THE VALUE OF THE STOCK IS REALLY THE DOLLARS, SO WE KEEP IT HIGH.

CRAMER: I THINK THAT'S GOOD. I LIKE INDIVIDUALS TO BUY ONE SHARE. BERKSHIRE HATHAWAY DID THE SAME THING.

SCHMIDT: IT WORKS WELL.

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