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Trading the good—and bad—of Thursday's earnings

Shares of Nvidia and TripAdvisor moved in opposite directions after quarterly results Thursday. But both hold upside, CNBC "Fast Money" traders said.

Chip maker Nvidia's earnings of 44 cents per share on $1.31 billion in sales blew past Wall Street's estimates, according to FactSet. Travel website TripAdvisor fell short of analysts' projections with net income of 53 cents per share on $415 million in revenue.

The Nvidia Shield Android tablet.
Nvidia
The Nvidia Shield Android tablet.

While Nvidia soared 8 percent and TripAdvisor plunged about the same amount in after-hours trading, both may be worth a buy, traders said.

Nvidia's "outperformance cannot be ignored," said trader Steve Grasso, who noted the company should continue to grow its sales of connected car and home chips. Trader Dan Nathan agreed, adding Nvidia has thrived as an independent company despite a string of consolidation in the sector.

Read MoreWave of consolidation hits chipmakers

Despite its sales miss, TripAdvisor's revenue grew 17 percent in the quarter. It traded near $76 per share at its after-hours levels, and could be worth buying if it falls to $75, trader Guy Adami contended.

While investors should not rush into the stock, they could consider it on weakness, added trader Brian Kelly.

Disclosures:

Dan Nathan

Dan is long AMAT Jan call spread, BA Oct put spread, CSCO Jan calls, INTC Dec put spread, M long Jan calls, XLF Dec put spread, IWM Dec put spread, XLI Dec put spread, TWTR

Steve Grasso

Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long NE, AMZN kids own EFA, EFG, EWJ, IJR, SPY

Brian Kelly

Brian Kelly is long BBRY, GLD, Bitcoin, Hong Kong Dollar, US Dollar; he is short Yuan, British Pound, Candaian Dollar, Euro, Yen, EEM, EWC, EWH, EWU, EWG, SPY

Guy Adami

Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.