Adolescents' interactions with friends were severely disrupted during stay-at-home orders associated with the COVID-19 pandemic. The current study (N = 144, 49% female, 80% European American) considered adolescents' perceptions of this disruption and the implications of the disruption for their emotional adjustment. Adolescents reported that not seeing friends was the most distressing consequence of the pandemic. Compared to before the pandemic, adolescents reported a large decrease in in-person interactions with friends, which was related to loneliness. There was a small increase in online interactions, which could counteract the effects of fewer in-person interactions, but only if the interactions felt socially connected. Online interactions lacking social connection were related to greater loneliness and depressive symptoms.