(WASHINGTON) — The U.S. Postal Service is losing even more money.
Despite seeing increased revenue across all products, the USPS on Monday reported a $2 billion loss in the quarter ending June 30 — a significant increase from a $740 million loss this time last year.
In fact, over the last 23 quarters, the agency has reported a loss in every single quarter but two. The two exceptions were because Congress rescheduled retiree payments.
The Postal Service has seen decreasing volumes for a number of years and faces growing operational expenses as well as increased consumer preference for private shipping companies such as FedEx and UPS.
Copyright 2014 ABC News Radio
Paul R. La Monica, CNN Newswire
Lindsey Branwell, WDJT