U.S. Postal Service Losses Mount, Warns of Potential for Defaults

Shipping Services revenue of $2.6 billion increased 1.7 percent or $42 million compared to the same period a year ago. Shipping Services volume of 422 million pieces represented a 2.4 percent increase compared to the same period a year earlier.

Details of the first quarter results include:

• Operating revenue of $17.9 billion, compared to $18.4 billion in the same period a year earlier, a decrease of 2.6 percent;