The U.S. Postal Service continues to bleed red ink.
In its fiscal 2023 third quarter, which ended June 30, the Postal Service lost $860 million on an adjusted, non-GAAP basis, compared with an adjusted $459 million loss. On a GAAP basis, the net loss was $1.7 billion, compared to net income of $59.7 million in the year-earlier quarter.
Operating revenue declined 0.9% to $18.6 billion, the Postal Service said.
Shipping and package volume in the quarter was down 2.4% to 1.7 billion pieces from 1.74...
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