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Postal Service loss narrows for fiscal year

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Washington, D.C.—The U.S. Postal Service lost $4.97 billion for its fiscal year ended Sept. 30, compared with the $15.91 billion loss incurred the year earlier. This marked the seventh consecutive year of net losses for the Postal Service, but it was its smallest loss since 2009. The results were buoyed by strong showings in shipping and packages services, with revenue rising 7.96% to $12.52 billion. Standard mail, used most often for advertising, also gained ground, rising 2.96% year over year, as did international mail, up by 7.07%. First-class mail, the Postal Service's most lucrative service, as well as periodical mailings continued to show declines in revenue and volume. The Postal Service and Amazon.com Inc. earlier this week announced a deal to deliver packages on Sunday, starting in the Los Angeles and New York metropolitan areas. That service will be rolled out to other metro areas next year, including Dallas, Houston, New Orleans and Phoenix.
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