Cramer: Easterbrook Can Turn McDonald's Around

Although McDonald's Corporation MCD came out with worse than expected first quarter earnings earlier on Wednesday.

CNBC’s Jim Cramer was seen weighing in on McDonald’s results and praising the company’s CEO.

Giving Hope

“This was not a bad quarter,” Cramer said. “Honestly, we could go back and we could look line by line and if we look at the big picture. Don’t look -- the forest not the trees, they made the revenues. I was looking for 2.6 percent drop by the way in comps; they came in at 2.3, 2.3 percent drop.”

He continued, “They gave you hope, big early May meeting, quoted Ray Kroc. You haven’t heard Ray Kroc’s name in a long time. Talking about taking some bold and thoughtful action. I have been speaking with some franchisees -- this man is winning them over.”

Turnaround

Cramer was all praise for McDonald’s CEO, saying, “Well, I have got to tell you, I think that [Steve] Easterbrook is giving you hope and in the meantime the dividend is giving you safety.”

“You talked, right at the top about the idea of giving the money. U.S. government what you get? Giving the money to McDonald’s, you get a little better and I think there's a lot of hope there and I think that it’s not misplaced. I am betting that Easterbrook can turn it around,” Cramer concluded.