Zillow is going to start answering questions about their quarterly financials using Facebook and Twitter. Earlier this month, the SEC approved the use of social media for talking about financials. It was first questioned when Netflix CEO Reed Hastings mentioned a company milestone on Facebook without reporting it in financial documents.
Zillow said “we?re excited to announce today that we?re the first company planning to take questions via social media during our earnings call on May 7. Now the investor community can connect with Zillow by Tweeting questions to @zillow and using the hashtag #ZEarnings, or by posting a question on our Facebook page.”
Zillow is the first public company to accept earnings questions through social media this way. The Regulation Fair Disclosure (Regulation FD) requires companies distribute information in a way that can be accessed equally by all investors.