Cramer's 'Mad Money' Recap: April 30

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The real story of today's market is not that companies are doing better than expected but why they're doing better, Jim Cramer told the viewers of his "Mad Money" TV Show Thursday.

Cramer said the real story behind the better-than-expected" earnings from companies like Starbucks (SBUX Quote), International Paper (IP Quote) and NYSE Euronext (NYX Quote) is that their profits didn't come from increased sales, but rather from cost-cutting.

It's clear that the massive reductions in head counts, along with other cost cutting, is working, said Cramer. Make no mistake, he said, these companies are not doing any better than they were last quarter. Business is not improving, but trimming the fat is working.

Cramer said there was only one company that actually grew the top line, and that was First Solar (FSLR Quote). He also praised his "four horsemen of tech" -- Apple (AAPL Quote), Amazon.com (AMZN Quote), Research In Motion (RIMM Quote) and Google (GOOG Quote) -- for also growing their top lines. Only these companies, he said, have better sales and lower costs.

Cramer also admitted he was wrong on two stocks, Dow Chemical (DOW Quote) and Owen-Illinois (OI Quote), both of which cut costs far more than he expected, and were able to post much better than expected revenues.

"Make no mistake, these earnings had nothing to do with business getting better," said Cramer.