Health crisis proves profitable for CVS

CVS Health reported robust growth during the second quarter of 2020, the same quarter which saw the United States Gross Domestic Product crash to unprecedented lows because of the pandemic. CVS is best known for its enormous chain of drugstores, but the company also has a strong health insurance division following a deal with Aetna insurance in 2018. The company made $65.3 billion in revenues during the quarter, up 3 percent and better than expected. Net income came in at $2.94 billion, which was an improvement on $1.94 billion for the same period in 2019. But the lockdown period proved to be good for business, as many consumer put off elective medical procedures and putting to use health-care benefits. CVS was active during the pandemic, setting up more than 1,800 drive-thru testing locations that it ran together with public officials.