Postal Service losses fall in FQ1 to $354M


The Postal Service's losses narrowed to $354M in FQ1 from $1.3B a year earlier, helped by cost cutting and higher revenue from packing and shipping. That's the 19th quarter in 21 that the service has lost money.

Operating revenue +1.9% to $18B.

Total mail volume continued to drop, falling to 42B pieces from 43.5B.

The Postal Service again called on Congress to pass "comprehensive postal reform legislation," without it which it can't return to "long-term financial stability." (PR)

Comments (4)
  • frosty
    , contributor
    Comments (719) | Send Message
     
    Congress is the effective chairman of the USPS. Another stellar performance!
    9 Feb 2014, 08:06 AM Reply Like
  • PeteCal
    , contributor
    Comments (90) | Send Message
     
    Yep. But they are not responsible for cutting losses and making it a success.

     

    And they won't get fired if the post office fails.
    10 Feb 2014, 09:14 AM Reply Like
  • Jake2992
    , contributor
    Comments (1058) | Send Message
     
    Republican passed legislation under Bush is what put the postal service on this path, aand Republicans won't stop until they destroy every middle class job in America.
    9 Feb 2014, 02:50 PM Reply Like
  • King Rat
    , contributor
    Comments (1485) | Send Message
     
    Yes Jake, because the Republican party that caters to the middle class tax payers wants to destroy its primary voting bloc. Oh how logical are the talking points of the inane.
    9 Feb 2014, 08:12 PM Reply Like
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