USPS revenue falls, loss narrows

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Washington, D.C.—The U.S. Postal Service posted operating revenue of $18.4 billion for its first fiscal quarter ended December 31, down from $19.1 billion in the year-earlier period. However, the USPS saw its red ink shrink a bit; its net loss for the quarter was $297 million, compared with a net loss of $384 million in the year-earlier period. The USPS continues to struggle with the slumping economy and falling mail volume, as individuals and businesses shift to electronic forms of communication. Mail volume for the fiscal first quarter declined about 9% from a year earlier to 45.7 billion pieces. Revenue from standard mail, used most often for commercial direct mail campaigns, was $4.7 billion for the quarter, down from $5.1 billion. Standard mail volume was 21.9 billion pieces, down from 24.6 billion.
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