USPS reports $1.8bn revenue drop

[POSTMAN]

The US Postal Service (USPS) has reported a revenue of $69.6bn for fiscal year 2017, which was down around $1.8bn on last year.

Volume for primary source of revenue - letter mail - declines by 5.0 billion pieces
Continued aggressive management actions along with postal reform legislation & regulatory changes critically needed to address declining volumes and changing mail mix

The U.S. Postal Service reported revenue of $69.6 billion for fiscal year 2017 (October 1, 2016 - September 30, 2017), a decrease of $1.8 billion compared to the prior year. The lower revenues were driven largely by accelerated declines in First-Class and Marketing Mail volumes.

In 2017, mail volumes declined by approximately 5.0 billion pieces, or 3.6 percent, while package volumes grew by 589 million pieces, or 11.4 percent, continuing a multi-year trend of declining mail volumes and increasing package volume. While mail volume declines for the year were somewhat offset by growth in package volume, overall volume has declined by 4.9 billion pieces.

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