Another good indication in the earnings, he said, is that the company's new products, like the Z10 smartphone, haven't been fully realized. "Maybe you don't even have to think about the device. The subscription model may still be good even if you lose some subscribers," he said.
(Read More: Investors Abandon Blackberry After 'Disappointing' Launch)
Excluding items, BlackBerry made a profit of 22 cents per share, down sharply from 80 cents a share in the year-earlier period. Those figures, however, were far ahead of what Wall Street was expecting. Analysts had expected BlackBerry to report a quarterly loss of 29 cents a share on $2.85 billion in revenue, according to a consensus estimate from Thomson Reuters.
"I think that there are people that want this stock down. This company was supposed to have a terrible quarter. This was not a terrible quarter," he said. "This company was on the ropes. It's not anymore."
Cramer added that BlackBerry CEO, Thorsten Heins, "has managed to fix the balance sheet, much like what Meg (Whitman) has done at Hewlett Packard. Balance sheet fixing is stage one in a turnaround."