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Cramer: Twitter had an ‘existential crisis’ quarter

Twitter's latest quarterly report shows the company may be out of sorts at the moment, CNBC's Jim Cramer said Wednesday.

"This was an existential crisis quarter...," Cramer said on "Squawk on the Street."

Cramer made his remarks a day after the company reported quarterly profits and revenues that beat Wall Street's estimates.

However, the stock was driven sharply down during extended trading after Twitter CFO Anthony Noto said the company would not see "sustained, meaningful" user growth for a "considerable period of time" during Twitter's conference call.

Read MoreTwitter stock sinks as execs warn on user growth

"They [Twitter leaders] looked at the tape review of the [June 12 CNBC] interview, and they said everything's the opposite. They went from thinking, 'All right, we love it,' to thinking, 'All right, that didn't go over, we hate us,' " Cramer added.

Twitter shares opened about 10 percent lower.

DISCLOSURE: Cramer's trust owned Twitter stock when this article was published.