Jim Cramer Says Buy PayPal Over Square

Katherine Ross

It's earnings season!

We've heard from most of the banks this week.

Here's a quick rundown of how they did:

JPMorgan Chase (JPM) - Get Report said earnings for the three months ending in March were pegged at 78 cents per share, down nearly 63% from the same period last year and firmly south of the last Street forecast of $1.99 per share. 

Wells Fargo (WFC) - Get Report reported a net income of $653 million, or 1 cent a share, for the first quarter vs. $5.9 billion, or $1.20 a share, in the comparable year-earlier quarter.

Bank of America (BAC) - Get Report earned 40 cents a share in the first quarter, below analysts' expectations of 49 cents. Net interest income in the quarter was $12.13 billion vs. estimates of $11.74 billion.

Goldman Sachs (GS) - Get Report reported earnings for the three months ending in March of $3.11 per share, down 46% from the same period last year and well shy of the Street consensus forecast of $3.35 per share. Net revenues of $8.74 billion were modestly lower from last year but topped analysts' estimates of a $6.75 billion tally.

When asked whether or not he'd take a look at Paypal and Square after seeing earnings from the big banks, Jim Cramer said that he prefers Paypal.

Watch the video above for more.

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