- President Trump mentions Amazon (NASDAQ:AMZN) on Twitter while calling for the U.S. Postal Service to raise shipment prices to cover costs.
- Trump’s tweet: “Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer? Should be charging MUCH MORE!”
- The Post Office reported FY17 results last month with revenue of $69.6B, down $1.8B on the year, and operating expenses of $72.2B. The drop was due to declines in First-Class and Marketing Mail, which were partially offset by growth in package volume.
- Package volume grew by 589M pieces or 11.4% on the year compared to the 5B piece or 3.6% decline in mail volume. Shipping and Packages revenue rose 11.8% to $2.1B.
- Amazon founder and CEO Jeff Bezos also owns the Washington Post newspaper, which Trump has slammed numerous times on Twitter.
- Amazon shares are down 0.6%.