As Q2 earnings season comes to a close, it’s time to take stock of this quarter's best and worst performers amongst the consumer internet stocks, including Overstock (NASDAQ:OSTK) and its peers.

The ways people shop, transport, communicate, learn and play are undergoing a tremendous, technology-enabled change. Consumer internet companies are playing a key role in lives being transformed, simplified and made more accessible.

The 34 consumer internet stocks we track reported a slower Q2; on average, revenues beat analyst consensus estimates by 0.92%, while on average next quarter revenue guidance was 0.04% under consensus. Increasing interest rates hurt growth companies as investors search for near-term cash flows and consumer internet stocks have not been spared, with share prices down 19.8% since the previous earnings results, on average.

Overstock (NASDAQ:OSTK)

Originally launched as a website focusing on selling clearance sale electronics and home goods merchandise, Overstock (NASDAQ: OSTK) is a leading online retailer of home goods, primarily furniture.

Overstock reported revenues of $422.2 million, down 20.1% year on year, beating analyst expectations by 3.06%. It was a weak quarter for the company, with a decline in its user base and slow revenue growth. The company also announced it has completed the acquisition of Bed Bath & Beyond brand and other intellectual property.

“The acquisition of the Bed Bath & Beyond brand is the beginning of a new phase of growth for us,” said Overstock CEO Jonathan Johnson.

The stock is down 51.7% since the results and currently trades at $15.

Read our full report on Overstock here, it's free.

Best Q2: MercadoLibre (NASDAQ:MELI)

Originally started as an online auction platform, MercadoLibre (NASDAQ:MELI) today is a one-stop e-commerce marketplace in Latin America.

MercadoLibre reported revenues of $3.42 billion, up 31.5% year on year, beating analyst expectations by 4.4%. It was a very strong quarter for the company, with impressive growth in its user base and a decent beat of analysts' revenue estimates.

MercadoLibre scored the fastest revenue growth among its peers. The company reported 109 million daily active users, up 29.8% year on year. The stock is up 8.07% since the results and currently trades at $1,259.41.

Is now the time to buy MercadoLibre? Access our full analysis of the earnings results here, it's free.

Weakest Q2: Skillz (NYSE:SKLZ)

Taking a new twist at video gaming, Skillz (NYSE:SKLZ) offers developers a platform to create and distribute mobile games where players can pay fees to compete for cash prizes.

Skillz reported revenues of $40.2 million, down 45.2% year on year, missing analyst expectations by 5.66%. It was a weak quarter for the company, with a declining number of users and revenue.

The stock is down 58.4% since the results and currently trades at $4.5.

Read our full analysis of Skillz's results here.

Shutterstock (NYSE:SSTK)

Originally featuring a library that included many of founder Jon Oringer’s photos, Shutterstock (NYSE:SSTK) is now a digital platform where customers can license and use hundreds of millions of pieces of content.

Shutterstock reported revenues of $208.8 million, flat year on year, missing analyst expectations by 2.6%. It was a mixed quarter for the company, with full-year revenue guidance coming in higher than Wall Street's expectations. On the other hand, revenue growth was quite weak. In addition, the company's gross margin also deteriorated.

The company reported 0.56 million users, up 51.1% year on year. The stock is down 26.9% since the results and currently trades at $37.62.

Read our full, actionable report on Shutterstock here, it's free.

PlayStudios (NASDAQ:MYPS)

Founded by a team of former gaming industry executives, PlayStudios (NASDAQ:MYPS) offers free-to-play digital casino games.

PlayStudios reported revenues of $77.8 million, up 13.8% year on year, in line with analyst expectations. It was a mixed quarter for the company, with impressive growth in its user base but full-year revenue guidance missing analysts' expectations.

PlayStudios had the weakest full year guidance update among the peers. The company reported 13.9 million monthly active users, up 109% year on year. The stock is down 30.7% since the results and currently trades at $3.2.

Read our full, actionable report on PlayStudios here, it's free.

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The author has no position in any of the stocks mentioned