Cramer: Forget 'Google Socks,' go back to YouTube

Google should redirect its attention—and money— back to YouTube after missing its quarterly estimates, CNBC's Jim Cramer said Friday.

"I want them to spend on YouTube," he said on "Squawk on the Street." "YouTube is the most undervalued asset. They have spent too much time doing 'Google Feet' and 'Google Socks' and 'Google Hats' ... and whatever. They've done a lot of stuff that I don't like."

Google should spend more on YouTube because of the advertising growth opportunities it presents, Cramer said. Super Bowl ads have already reached 44 million views on YouTube, Cramer said.

The tech giant posted adjusted earnings of $6.88 per share for the fourth quarter, missing Wall Street's estimates of $7.11.

"This was the quarter where I thought they said, 'Maybe we've been doing the wrong thing, and maybe we have to return cash even,'" Cramer added. "They were sensitive … The analysts are in revolt."

Nevertheless, Cramer said Google showed signs of being a more mature company in its conference call. "This was a defining sentence for Google: 'We're looking for growth in operating profits,'" Cramer said. "[Although] it's kind of hard to believe they have to make that kind of defiance."