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Postal Service Lost $1.3 Billion This Quarter — But Don't Blame Amazon

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Postal Service Lost $1.3 Billion This Quarter — But Don't Blame Amazon
The service said shipping and packages saw revenue growth.
SHOW TRANSCRIPT

The U.S. Postal Service released its quarterly earnings report Friday, and it wasn't good news. The service lost $1.3 billion in the second quarter this year.

The report blamed marketplace trends and government restrictions for the Postal Service's financial losses and said shipping and packages was a place of growth.

That contradicts statements earlier this year and last year from President Donald Trump blaming online marketplaces — specifically Amazon.com — for much of the Postal Service's losses.

Trump ordered a review of the Postal Service in April to identify changes that could make the service's business model sustainable.