Forbes: stc is the top Telecom Company in the MENA Region

May 25, 2020

Forbes: stc is the top Telecom Company in the MENA Region

stc topped the list of powerful telecom companies in the MENA region, according to international Forbes magazine. The company also came in 5th place among the Arab companies listed in the stock market and 335th place internationally.
Forbes announced its annual "Global 2000" list which includes 2000 international companies listed according to the value of their assets, market value, and net profits and revenues in equitable shares. In 2019, Forbes selected stc among the 44 best digital companies in the world and first in the MENA region.
While stc revenues increasing during the year 2019 by 4.64%, the company continued its distinguished performance and its net profit increased during the first quarter of the year 2020 compared to the same quarter of the previous year by 5.93%.
The list included 40 companies from the Arab region, and Saudi Aramco topped the Arab companies on the list and ranked 5th in the world.
Saudi Arabia topped the Arab countries included in the list with 14 companies out of a total of 40 companies in the region, and among the most prominent Saudi companies on the list is SABIC, which came in 3rd in the Arab world and 12th in the world, then stc came in 5th place in the Arab world and 335th in the world