The U.S. Postal Service generated net income of $1.8 billion in the Oct. 1-Feb. 28 period, which was $1.1 million over budget, the agency said yesterday.
Also, revenue totaled $29.9 billion, which was $808.5 million better than planned, and was up 1.8 percent from the year-ago period. Expenses of $28.1 billion were $252.9 million under plan, but up 3.5 percent from the year-ago period.
Total year-to-date mail volume of 90.2 billion pieces increased 3.3 percent from the year-ago period. The most significant volume increase was in Standard Mail, which jumped 6.9 percent. The category with the next-largest increase was Priority Mail, up 2.7 percent.
Other categories producing volume increases in the period included Express Mail (0.7 percent), First-Class (0.3 percent) and International (0.1 percent).
Package Service and Periodicals declined 1 percent and 0.6 percent, respectively.
