STC Most Powerful Telecom Company in MENA Region

Published May 27th, 2020 - 01:00 GMT
STC Most Powerful Telecom Company in MENA Region
While STC’s revenues increased by 4.64 percent during 2019, the company’s net profit rose by 5.93 percent during the first quarter of 2020 compared to the same quarter of the previous year. (Shutterstock)
 
The Saudi Telecom Company (STC) has topped the Forbes list of powerful telecom companies in the MENA region. The telecom giant also came in fifth place among the Arab companies listed on the stock market and 335th place internationally.
 

Forbes announced its annual “Global 2000” list, which includes 2,000 international companies ranked 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’s revenues increased by 4.64 percent during 2019, the company’s net profit rose by 5.93 percent during the first quarter of 2020 compared to the same quarter of the previous year.

The MENA list included 40 companies from the Arab region, led by the Saudi Aramco, which ranked fifth 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. Among the most prominent Saudi companies on the list is SABIC, which came in third in the Arab region and 12th in the world.


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