Philippines-based Globe Telecom won two awards from global business research and consulting company Frost & Sullivan – the 2012 Frost & Sullivan Philippine Telecom Service Provider of the Year and the 2012 Frost & Sullivan Philippine Broadband Service Provider of the Year. The Frost & Sullivan Awards are presented each year to companies that have exhibited excellence in growth strategy and implementation, innovation with new products and technologies, leadership in customer value, and market penetration in their respective industries. According to the analysts at Frost & Sullivan Asia Pacific, Globe Telecom outperformed the market average with a year-on-year growth rate of 9.4 per cent to achieve $1.5 billion in revenue, while the number of its subscribers grew by 13 per cent. The telecom operator was also selected as the best Broadband Service Provider in 2011.