Wrapping up Q2 earnings, we look at the numbers and key takeaways for the consumer internet stocks, including Wayfair (NYSE:W) 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. Investors abandoned cash burning companies since high interest rates will make it harder to raise capital and consumer internet stocks have not been spared, with share prices down 19.2% since the previous earnings results, on average.

Wayfair (NYSE:W)

Launched in 2002 by founder Niraj Shah, Wayfair (NYSE: W) is a leading online retailer for mass market home goods in the US, UK, Canada, and Germany.

Wayfair reported revenues of $3.17 billion, down 3.44% year on year, beating analyst expectations by 2.38%. It was a decent quarter for the company, with revenue surpassing expectations, driven by a nice beat on orders and a slight beat on active customers. Adjusted EBITDA and free cash flow also exceeded expectations. On the other hand, despite beating estimates, the decline in its user base was not a great sign.

"Last year, we laid out a plan to strengthen our business that included a path to sustainable and growing profitability with several key milestones. For the past few quarters, you've seen us execute against that plan - to lower our costs, focus on the basics and earn more customer and supplier loyalty. And you've seen the tangible impact of this plan as our performance has continued to improve. I'm pleased to share today that we've passed one of our key milestones and we are reporting positive adjusted EBITDA and positive free cash flow," said Niraj Shah CEO, co-founder and co-chairman, Wayfair.

The stock is down 20.5% since the results and currently trades at $57.96.

Read our full report on Wayfair 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 pulled off 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 5.65% since the results and currently trades at $1,231.16.

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 decline in its user base and revenue.

The stock is down 60.4% since the results and currently trades at $4.29.

Read our full analysis of Skillz's results here.

Teladoc (NYSE:TDOC)

Founded to help people in rural areas get online medical consultations, Teladoc Health (NYSE:TDOC) is a telemedicine platform that facilitates remote doctor’s visits.

Teladoc reported revenues of $652.4 million, up 10.1% year on year, in line with analyst expectations. It was a mixed quarter for the company, with slow revenue growth. In addition, next quarter's revenue guidance came in slightly below Wall Street's expectations. On the other hand, Teladoc beat slightly on revenue and more convincingly for adjusted EBITDA. Another major positive was that the company raised full year guidance for revenue, adjusted EBITDA, and EPS.

The company reported 85.9 million users, up 6.58% year on year. The stock is down 19.4% since the results and currently trades at $18.35.

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

Etsy (NASDAQ:ETSY)

Founded by a struggling amateur furniture maker Robert Kalin and his two friends, Etsy (NASDAQ: ETSY) is one of the world’s largest online marketplaces, focusing on handmade or vintage items.

Etsy reported revenues of $628.9 million, up 7.48% year on year, beating analyst expectations by 1.86%. It was a weaker quarter for the company, with slow revenue growth. In addition, next quarter's gross merchandise value, revenue, and adjusted EBITDA guidance all missed Wall Street's expectations.

The company reported 96.3 million active buyers, up 2.45% year on year. The stock is down 33.4% since the results and currently trades at $64.

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

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The author has no position in any of the stocks mentioned