Jim Cramer Cheers Twitter, CFO Ned Segal Following Earnings

Twitter Inc TWTR is a buy following the company's better-than-expected financial results, Jim Cramer said Friday on CNBC's "Squawk Box."

What Happened: Twitter reported second-quarter earnings of 8 cents per share, which beat the estimate by a penny. The company reported quarterly revenue of $1.19 billion, which beat the estimate of $1.06 billion.

"We are driving more value for advertisers with our strong push into performance-based advertising and expanded offerings for small and medium-sized businesses," said Ned Segal, CFO of Twitter.

Related Link: Twitter Sees Price Target Bumps After Earnings; Analysts Cautious Over Twitter's DAU

Cramer's Take: Cramer said it's "a joy" to listen to Segal explain the company's financial results.

"Ned tells it as it is," Cramer added.

Increasing advertising revenue and the eventual implementation of transactions on the platform should prove to be catalysts for the stock, he said. 

TWTR Price Action: Twitter has traded as high as $80.75 and as low as $35.65 over a 52-week period.

At last check Friday, the stock was up 4% at $72.30.