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Item 7.01
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Regulation FD Disclosure.
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As previously announced, Zillow Group, Inc.’s (“Zillow Group”) Co-Founder and Chief Executive Officer Rich Barton and Chief Financial Officer Allen Parker will host a live conference call and webcast today at 2 p.m. PT / 5 p.m. ET to provide a business update in light of COVID-19. Zillow Group posted a slide presentation to its investor relations website at https://investors.zillowgroup.com/investors/news-and-events/events-and-presentations/default.aspx that will be discussed during this call. The slide presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Zillow Group expects to be within or exceed the range for each measure with respect to the first quarter 2020 outlook that was issued on February 21, 2020. However, given the magnitude and duration of the impact from COVID-19 are unknown and cannot be reasonably estimated, Zillow Group is withdrawing the full-year 2020 outlook that was issued on February 21, 2020.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act that involve risks and uncertainties, including, without limitation, statements regarding our outlook, financial condition, and the future of Zillow Group, Zillow Offers, Premier Agent and other parts of our business. Statements containing words such as “may,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “project,” “will,” “projections,” “continue,” “estimate,” “outlook,” “guidance,” or similar expressions constitute forward-looking statements. Forward-looking statements are made based on assumptions as of March 23, 2020, and although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. Differences in Zillow Group’s actual results from those described in these forward-looking statements may result from actions taken by Zillow Group as well as from risks and uncertainties beyond Zillow Group’s control. Factors that may contribute to such differences include, but are not limited to, Zillow Group’s ability to execute on strategy; Zillow Group’s ability to maintain and effectively manage an adequate rate of growth; Zillow Group’s ability to innovate and provide products and services that are attractive to its users and advertisers; Zillow Group’s investment of resources to pursue strategies that may not prove effective; natural disasters, epidemics or pandemics, like COVID-19, that could negatively impact our business; and the impact of the real estate market and economy on Zillow Group’s business. The foregoing list of risks and uncertainties is illustrative but not exhaustive. For more information about potential factors that could affect Zillow Group’s business and financial results, please review the “Risk Factors” described in Zillow Group’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC and in Zillow Group’s other filings with the SEC. Except as may be required by law, Zillow Group does not intend, and undertakes no duty to update this information to reflect future events or circumstances.