Postal Service Losses Shrinking
Still losing hundreds of millions of dollars, but it's a decrease
The U.S. Postal Service racked up another quarter of red ink in the last three months of 2013 — but also saw its losses shrink significantly, to $354 million.
Losses were driven down large part because of a more than 10 percent jump in package volume and a 14 percent jump in package and shipping revenue, one of the largest bright spots in the agency's financial ledger.
The Postal Service had lost well over $1 billion during the same span the previous year, in what is generally the agency's strongest quarter, because of holiday shipping and mailing.
