USPS loses $3.3 billion in first fiscal quarter

Washington, D.C.—The U.S. Postal Service reported a net loss of $3.3 billion in its first fiscal quarter ended Dec. 31. Mail volume declined 6.4% overall, to 43.2 billion pieces.

As expected, first-class mail continued its slide, with revenue of $8.1 billion for the quarter, down 4.1% from the same quarter last year. Standard mail, used most often by commercial mailers, saw revenue slip 6.1% to $4.7 billion.