US EditionUS Postal Service reports $6.5 billion net loss for 2023 fiscal year
- The U.S. Postal Service reported a loss of $6.5 billion in the fiscal year, falling short of its goal of breaking even.
- The loss was attributed to increased operating costs and a decrease in marketing mailers. Operating revenue fell to $78.2 billion, while operating expenses increased to $85.4 billion.
- Despite the loss, revenue from shipping and packages increased, with a 1% growth to $31.6 billion. First-Class mail also generated more revenue, reaching $24.5 billion.
12 Articles
12 Articles
US Postal Service records whopping $6.5 billion net loss for 2023
The United States Postal Service (USPS) on Tuesday reported a $6.5 billion net loss for fiscal year 2023 despite initially aiming to break even. The Postal Service said operating revenue fell $321 million, or 0.4%, to $78.2 billion compared to the same period last year, as first-class mail fell to the lowest volume since 1968. The federal entity pointed to $2.6 billion in inflation costs and a decrease in mail volume for the significant losses.…
US Postal Service reports $6.5 billion net loss for 2023 fiscal year
The U.S. Postal Service on Tuesday reported a $6.5 billion net loss for the 12 months ending Sept. 30 and said it will not breakeven next year as first-class mail fell to the lowest volume since 1968.
The US Postal Service lost $6.5 billion last year. It predicted it would break even
By Chris Isidore, CNN New York (CNN) — The US Postal Service lost $6.5 billion in its just-completed fiscal year, delivering a blow to the service’s hopes of a financial turnaround. The Postal Service had projected it would break even in the fiscal year that ended September 30, on its way to annual profits this year and going forward. Its results are particularly disappointing because it received a bump in its revenue earlier this year when ship…
The US Postal Service lost $6.5 billion last year. It predicted it would break even
By Chris Isidore, CNN New York (CNN) — The US Postal Service lost $6.5 billion in its just-completed fiscal year, delivering a blow to the service’s hopes of a financial turnaround. The Postal Service had projected it would break even in the fiscal year that ended September 30, on its way to annual profits this year and going forward. Its results are particularly disappointing because it received a bump in its revenue earlier this year when ship…
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