(Business Insider) The US Postal Service is headed in the wrong direction.
It posted a controllable loss of $656 million in the second quarter, compared with income of $12 million for the same period a year ago. The USPS also incurred a total net loss of $1.3 billion, compared to the $562 million loss it saw in the second quarter of 2017. Those drastic slips are likely to overshadow USPS’s revenue rising 1.4%, to $1.75 billion, on a year-over-year basis.
Perhaps even more troublesome is that the USPS posted such a large loss during a period in which package volumes increased by 5%.