USPS revenue flat, net income down sharply

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Washington, D.C.—The U.S. Postal Service reported first-quarter operating revenue of $17.296 billion, compared with $17.292 billion in the year-earlier period.

Net income slid to $275 million from $741 million a year earlier.

USPS attributed the decline to a planned advertising increase, higher jet fuel and gasoline prices, and increased mail volume.

Mail volume increased by 1.2%, or 626 million pieces, for the quarter.

—Carol Krol

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