(Telecompaper) Verizon Communications reported first-quarter EPS of USD 1.15, up from USD 0.68 a year earlier thanks to its acquisition of the remaining stake in Verizon Wireless. This was the US operator's fifth consecutive quarter of double-digit earnings growth. Adjusted EPS rose 23.5 percent to USD 0.84. Driven by wireless and Fios services, total operating revenues increased 4.8 percent to USD 30.8 billion. Operating profit was up 15.1 percent to USD 7.2 billion, and the operating margin was 23.2 percent, up from 21.1 percent. The EBITDA margin increased to 36.7 percent from 35.1 percent a year ago. Cash flow from operating activities declined to USD 7.1 billion from 7.5 billion, while capital expenditures totalled USD 4.15 billion. The company continues to target full-year investments in the range of USD 16.5-17 billion, with a decrease in capital spending as a percentage of total revenues. Verizon targets top-line growth of 4 percent and adjusted EBITDA margin expansion in 2014, with positive contributions to profitable growth from both wireless and wireline. Verizon reiterated guidance of increases in both the wireless and wireline EBITDA and EBITDA margins in 2014.