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WASHINGTON, Feb. 9, 2021 /PRNewswire/ The U.S. Postal Service today reported its financial results for the first quarter of its fiscal year 2021 (Oct. 1, 2020 - Dec. 31, 2020), as the COVID-19 pandemic continues to have an unpredictable impact on the economy and the Postal Service. Net income for the quarter was $318 million. Excluding non-cash workers compensation adjustments and a time-limited peak surcharge, the loss for the quarter would have been approximately $650 million.
The Postal Service processed and delivered a record number of holiday packages for the American people under some of the most difficult circumstances we ve faced more than 1.1 billion packages were delivered during the holiday season amidst a global pandemic. Throughout the peak season, the Postal Service, along with the broader shipping sector, faced pressure on service performance across categories as it managed through a record of volume while also overcoming