Washington, D.C.—The U.S. Postal Service continues to hemorrhage money, posting a net loss of $747 million in April, and an accumulated net loss of $3.3 billion in the first seven months of its fiscal year.
Overall mail volume in April was 13.8 billion mail pieces—down 4.5% from the same period last year—largely due to decreases in first class and periodicals mailings as consumers and businesses increasingly employ online forms of communications.
However, commercial mail continues as a bright spot for the Postal Service. Standard mail volume and revenue in April remained virtually unchanged from a year ago, while total shipping services enjoyed a 7.4% increase in volume, and a 9.4% boost in revenue.