USPS Net Income Hits $1.7 Billion
The U.S. Postal Service generated net income of $1.7 billion from Oct. 1 to June 30, according to financial and operating statements the agency released last week.This fiscal year-to-date USPS net income was $518.6 million over budget. Revenue totaled $52.98 billion, which was $1.08 billion better than planned and up 1.7 percent from the year-ago period. Expenses of $51.27 billion were $116.7 million under plan but up 4 percent from the year-ago period.
Year-to-date mail volume of 159.8 billion pieces was a 3.1 percent rise from the year-ago period. The most significant volume increase was in Standard, which jumped 6.1 percent. The category with the next-largest increase was Priority Mail, up 4.1 percent.
Other categories producing volume increases in the period included Package Services (2.8 percent), Express Mail (2 percent), International (0.4 percent), First Class (0.4 percent) and Periodicals (0.1 percent).
