And they’re still not paying any taxes! What is wrong with this picture?

General Electric Co. said Thursday first-quarter profit soared 77% from a year ago on strength in its transportation, health-care and aviation businesses.

The Fairfield, Conn.-based conglomerate GE +2.60% , considered a global bellwether due to the breadth of its businesses, reported earnings of $3.43 billion, or 31 cents a share, up from $1.95 billion, or 17 cents, in the year-ago period.

Operating earnings were $3.6 billion, or 33 cents a share. Quarterly revenue rose 6% to nearly $38.45 billion.