NEW YORK (TheStreet) -- TheStreet's Jim Cramer breaks down Yahoo!'s  (YHOO) fourth-quarter earnings and its spinoff of its large stake in Alibaba  (BABA) - Get Alibaba Group Holding Ltd. Sponsored ADR Report .

Cramer says Yahoo! has given him everything that he wanted. He thinks the Alibaba spinoff will be terrific and notes Alibaba will report its own quarterly earnings soon, though he does not like the Chinese government meddling with the company.

He has been expecting something like this from Yahoo! CEO Marissa Mayer and says she has done the right thing over and over again. Cramer says she has taken a lot of heat but if you look at all the other stocks in the segment, she is the best performer.

Must Watch: Jim Cramer: Yahoo!'s Marissa Mayer Is Best Performer in Sector

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Cramer says naysayers would point out that she succeeded with the stewardship of Alibaba, but he does not care about that because a win is a win and even an ugly win is better than a loss. He says Mayer has delivered, but now the focus turns to what she calls "MaVeNS," or mobile, video, native advertising, and social.

TheStreet Recommends

Cramer questions if these will be enough to move the needle and get the earnings per share over $1 after Alibaba is gone. Cramer says he is looking for this to happen in 2016/17 after the spinoff, and he sees no reason to write off Mayer as so many others have done.

Image placeholder title

YHOO

data by

YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.