The U.S. Postal Service had net income of $2.9 billion — $918.9 million over budget — from Oct. 1 to May 31, the agency reported yesterday. Meanwhile, mail volume was up and expenses are under plan.
According to the postal service’s fiscal and operating statements, revenue was $46.65 billion, 0.5 percent better than planned, while expenses of $43.75 billion were 1.5 percent under the planned budget.
Mail volume rose 0.7 percent compared with last year. Standard mail and International mail grew 3.8 percent and 6.9 percent, respectively. However, several mail classes saw declines. Periodicals fell 4.4 percent; Express Mail, 4.2 percent; Priority Mail, 2.4 percent; First-Class, 1.7 percent; and Package Services, 0.2 percent.
For the month of May, total mail volume fell 2.5 percent, the USPS said.
