Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
Partly Cloudy Night 39° Partly Cloudy
News >  Business

Postal Service shows profit during year-end holiday season

Associated Press

WASHINGTON – A strong holiday shipping season and a couple of favorable economic situations have temporarily turned around the financial fortunes of the Postal Service.

The post office reported a $307 million profit between October and December of 2015, as compared to a $754 million loss the previous year. That was in part because a 16 percent increase in package volume during the first quarter of the fiscal year.

But postal officials are warning that without favorable interest rate changes and a postal surcharge that will expire in April, they would have had a net loss of approximately $700 million in the first quarter.

The first quarter operating revenue was $19.3 billion, an increase of $613 million or 3.3 percent over the same period in the previous year.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.


Annual health and dental insurance enrollment period open now

 (Courtesy Washington Healthplanfinder)
Sponsored

2020 has been a stressful year for myriad reasons.