Cramer: Facebook's the best new story of the year

When Jim Cramer looked at the quarter that Facebook delivered, he wished that Mark Zuckerberg would take more paternity leave.

"One-third of the remarkable quarter Facebook reported last night came during the first month that Zuckerberg took off to spend with his new daughter, so let's hope he plans on having a very big family," the "Mad Money" host said.

All kidding aside, Facebook had an amazing quarter, and Cramer listed each change that the company made that allowed it to crush earnings.

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First, it is growing so rapidly that the strong dollar won't even impact it. The company clearly had no economic sensitivity whatsoever, and unlike virtually every other internet company, Facebook can charge more for mobile ads than desktop ones.

That was a very important point for Cramer, as mobile now comprises more than 80 percent of the company's 148 million daily-active users. And despite the 100 million hours of video watched daily, the advertisers have yet to catch up with the consumer adoption.

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Cramer advised investors not to be wary of increased expenses, because investing in a business typically gives the company an instant return. This was evident with its investments in Instagram and What's App.

"In fact, you want them to accelerate," Cramer said.

Cramer also thinks that it could be possible that Messenger, with its 800 million users, and What's App could ultimately be as big as Facebook and Instagram.

One investment that Cramer thinks could explode in a big way is its $2 billion investment in Oculus Rift. Although the company will be constrained for supplying the devices, Cramer still thinks it will have a significant revenue stream in the near future.

So, how did Facebook make all of these changes?

One word — mobile. Zuckerberg told his product teams that when they come in for reviews to just come in with mobile. He made it very clear that his mission was for mobile products.

"That is how you get the best new story of the year, if not the decade, which is why Facebook is now the cheapest of the high-growth FANG cohort," Cramer said.

Even after the stock's run on Thursday, Cramer still thinks the stock is a buy and would like to buy more if it goes lower.

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