- 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)
Postal Service losses fall in FQ1 to $354M
Feb 9 2014, 02:47 ET