U.S. Postal Service swings to loss as e-commerce surge subsides
The U.S. Postal Service announced Tuesday that it swung to a fiscal first-quarter loss as expenses increased while revenue fell, as shipping and packages volume declined during the holiday period. For the quarter to Dec. 31, the Post Office recorded a net loss of $1.55 billion, after net income of $318 million in the same period a year ago.
First-class mail revenue rose 2.5% to $6.46 billion and market mail revenue increased 7.3% to $4.47 billion, but shipping and packages revenue dropped 7.9% to $8.64 billion. Meanwhile, total operating expenses increased 7.9% to $22.82 billion."Despite the record package volume during the holiday season, the overall surge in e-commerce has begun to subside," said Chief Financial Officer Joseph Corbett.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Letters to the Editor — Texas Supreme Court, baseball, U.S. Postal Service, UkraineRe: “The verdict’s in: This judge rules,” by Dave Lieber, Jan. 30 Metro column. This column should be required reading for all Texans. Lieber points out...
Consulte Mais informação »
Shiba Inu’s SHIB Extends Surge, Bitcoin Breaks Key VWAP ResistanceShiba Inu’s SHIB token extends Monday's surge as bitcoin breaks through a key resistance level. By shauryamalwa
Consulte Mais informação »
TikTok shopping takes off in livestreams: Lucky crystals for $9.99Livestream shopping, like on TikTok, may be the future of online shopping in the U.S., many e-commerce experts predict.
Consulte Mais informação »
The Rise And Fall Of Juul | Rise And FallYou've probably heard of Juul – a device so popular, it became a verb. The vaping giant quickly dominated the e-cigarette market, but instead of helping adul...
Consulte Mais informação »
Developing Countries Brace for Impact From Fed Rate IncreasesFor developing countries, the Federal Reserve’s battle to squelch U.S. inflation with a series of rate increases this year stirs a mix of hope and anxiety
Consulte Mais informação »