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

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.