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Cramer on Amazon earnings: 'This was the best quarter I've ever seen' for a company, period

Key Points
  • CNBC's Jim Cramer says Amazon's latest quarter is the best he's ever seen.
  • To doubters of his bold statement, Cramer says, "What are you looking for, incrementalism? This wasn't incrementalism. This is a new order."
  • Amazon shares jumped in early trading Friday, briefly rising above its all-time high of $1,617.54.
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Jim Cramer on Amazon: This is best quarter of a company I’ve ever seen

CNBC's Jim Cramer on Friday threw down the gauntlet on Amazon, saying the e-commerce and cloud computing giant's latest fiscal quarter is the best he's ever seen and a "new order."

Cramer said he didn't and won't qualify that statement.

"This was the best quarter I've ever seen of a company," he said on "Squawk on the Street. "

"When you do $2 better ... do you not call that the best quarter ever," Cramer asked, rhetorically, referring to Amazon's first-quarter profit of $3.27 per share versus estimates of $1.26. The results were reported Thursday after the closing bell on Wall Street. Overall revenue, which includes Whole Foods' numbers, and revenue from Amazon Web Services also exceeded what analysts had expected.

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Amazon is like a well-trained army, says Jim Cramer

To doubters of his bold statement, Cramer said, "What are you looking for, incrementalism? This wasn't incrementalism. This is a new order."

Amazon shares jumped in early trading Friday, briefly rising above its all-time high of $1,617.54.

Analysts were quick to gush over Amazon's prospects.

The most bullish, Macquarie's Ben Schachter, raised his 12-month price target on Amazon by 20 percent to $2,100, a level that would put the stock over $1 trillion in market value.

Cramer said, "The reason it's not at a trillion is that people aren't willing to pay $300 more than they should. But they could."

"It's going to a trillion dollars," Cramer predicted.

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