Despite an increase in revenue of $1.1 billion, the U.S. Postal Service reported a net loss of $5.1 billion for Fiscal Year 2015, which ended on September 30th.
“The U.S. Postal Service reported a net loss of $5.1 billion for fiscal year 2015 (October 1, 2014 – September 30, 2015),” according to a press release.
It was the ninth year in a row that USPS ended its fiscal year in the red.
“We achieved controllable income in excess of $1 billion for the second consecutive fiscal year giving us some limited flexibility to make critical investments in the future of the organization,” Postmaster General Megan Brennan said in a statement. “To maintain this success, we will need to continue our efforts to grow the business and drive operational efficiencies.