US Postal Service Loses $6.5 Billion in 2022 After Projecting Break Even
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The US Postal Service lost $6.5 billion in the 2022 fiscal year, after projecting it would break even.
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Inflation was cited as a key reason for the loss, raising costs for operations.
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Revenue from shipping packages was up 1% to $31.6 billion, though volume fell 2%.
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First-Class mail revenue rose 2% to $24.5 billion despite a 6% drop in volume.
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Marketing mail saw an 8% revenue decrease, dropping $920 million to $10.5 billion.