The Internet and technology giant missed Wall Street's estimates for both quarterly profit and revenue. Still, shares jumped, and trader Guy Adami believes it has more upside.
Read MoreGoogle earnings and revenue miss expectations
Adami noted that the stock could rise to $600 per share, more than $20 higher than Thursday's levels, in the short-term.
Amazon.com surged even more than Google, shooting 6 percent higher in extended trading. The company's quarterly loss fell in line with estimates, but its cloud business surged year-over-year.
Read MoreAmazon lifts veil on cloud biz, says it's worth $5B
Seymour and Adami said Amazon showed operating margin improvement in the quarter. Adami contended that investors should stay long in the stock against $385 per share, $40 lower than where it traded Thursday.
Trader Brian Kelly would hesitate to buy the stock now, but said he would jump in if shares fell to $400.
Traders were less encouraged by Microsoft's surprising results. Shares rose 3 percent after the company beat estimates for both quarterly profit and revenue.
Read MoreLofty cloud services sales boost Microsoft
Kelly, Seymour and Adami all said they would shed stake in Microsoft at $45 per share, where it traded Thursday.
Tim Seymour is long T, BAC, C, DAL, DIS, XOM, F, GE, GM, GOOGL, INTC, EWZ, SCTY and SUNE. Tim's firm is long BABA, BIDU, ITUB, MCD, NKE, NOK, PBR, SBUX and YHOO
Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts and U.S. dollar. He is short 30-year bond futures. He is short Australian dollar. He is short yen. He is short yuan.
Karen Finerman is long BABA, BAC, C, LPG, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, CMLS, DIS, LPG, FINL, FBT, FL, GOOG, GOOGL, IBB, JPM, M, KORS, XBI, SUNE, URI, VRSN and VIAB. Her firm is long calls URI. Her firm is short IWM, MDY and SPY. Karen Finerman is on the board of GrafTech International.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.