(Telecompaper) AT&T reported first-quarter revenues down 1.5 percent to USD 31.4 billion, while EPS improved to USD 0.67 from USD 0.60 a year earlier. The results were impacted by the sale of its Advertising Solutions units; excluding this, EPS rose 8.5 percent to USD 0.64 and revenues were up 0.9 percent. Operating profit fell to USD 5.9 billion from USD 6.1 billion a year ago, and the margin dropped to 18.9 percent from 19.2. The US operator generated USD 8.2 billion in operating cash flow and spent USD 4.3 billion on capital equipment in the quarter. AT&T maintained its capex budget for the full year at USD 21 billion but cut planned spending for 2014 and 2015 to around USD 20 billion per year from USD 22 billion previously. The company said it expects savings through greater integration efficiencies in its Project VIP, accelerating LTE build in 2013 and other ongoing initiatives. The LTE network now reach nearly 200 million POPs and is expected to reach nearly 90 percent of the planned 300 million POPs by the end of 2013.