Cramer: A rare moment for earnings season

Cramer: Four earning season standouts

Thursday night was a rare occasion for Wall Street, and Jim Cramer is still basking in the glow of earnings perfection. Amazon, Google, Microsoft and Starbucks all delivered fantastic quarters, proving that things have gotten about as good as they can get.

"They were terrific for all different reasons but they were perfect nonetheless, at least for this market," the "Mad Money" host said.

All four companies held stellar conference calls, which matters in the middle of earnings season as investors start to get earnings fatigue. Additionally, they all managed to pull off stories that were much more positive than expected.

To dig deeper into what exactly went right that set this powerful group away from the rest of the Wall Street crowd, Cramer laid out the positive stories behind each company.

First, Amazon actually went out on a limb and told investors something. Yippee! Finally, a change of pace. Amazon broke down exactly how well it is doing online and how successful its distribution system is. It also spoke of good news in both India and China.

"In the past, Amazon's conference calls have been vapid exchanges with no real enlightenment, just sleepwalking, even contemptuous at times," Cramer said.

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Everyone already knew that growth was slowing at Google as it was losing share to Facebook. And then it reported and it didn't say anything different, and the numbers were widely considered as disappointing.

Cramer saw sparks of hope for Google and its ability to monetize YouTube, which could be huge bucks for Google down the road. Additionally, Google talked about wanting to reduce expenses by stopping wasteful projects and unnecessary hiring.

Finally, this company is starting to walk the walk as it was discovered that Google actually has boat loads of cash once it gets expenses under control. Cramer was stunned at how profitable this company is right now.

"Microsoft is a testament to what happens when you blow a quarter, your estimates get slashed and the downgrades come fast and furious," Cramer added.

As a result, the expectations were so low that the company was able to beat estimates. Cramer loved how it presented data in three categories: cloud, Windows and devices. He was reassured that this previously paralyzed management team has managed to get itself together.

Then there was Starbucks, which confirmed that traffic is up, mobile pay is speeding up its lines and food is selling better than expected.

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"I was astonished at how strong this one really was, and that's coming from someone who was already a big believer going in. This is a different, better story than people thought," Cramer said.

It is a very rare occasion that everything comes together in one night of earnings, especially for these big four companies. This is one event that Cramer can't ignore, and he's giving them all a round of applause.

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