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)