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USPS reports $2.5 billion fiscal third quarter net loss
['Jeff Berman']
Logistics Management News
Fiscal third quarter earnings results issued late last week by the United States Postal Service (USPS), again saw steep declines.
And its net loss under generally accepted accounting principles came in at $2.5 billion, down from $3.1 for the same quarter a year ago, while steeper than a $2.0 billion fiscal second quarter loss.
USPS reported that Shipping and Packages revenue rose $588 million, or 7.7%, to $8.25 billion, with volume down 55 million pieces, or 3.4%, to 1.554 million.
Marketing Mail revenue rose $440 million, or 12.3%, on a volume gain of 574 million pieces, or 4.3%.
First-Class Mail revenue was up $255 million, or 4.3%, with volume off 343 million pieces, or 3.5% annually.