By Dave Sebastian 



  CVS Health Corp. said its second-quarter profit rose as its insurance arm benefited from deferred elective procedures amid the Covid-19 shelter-in-place measures, though it also had lower new therapy prescriptions. 


  The pharmacy chain, which also owns insurance giant Aetna, on Wednesday posted a net profit of $2.98 billion, or $2.26 a share, compared with $1.94 billion, or $1.49 a share, in the same period last year. 


  Adjusted earnings were $2.64 a share. Analysts polled by FactSet were looking for adjusted earnings of $1.91 a share. 


  The Woonsocket, R.I.-based company reported sales of $65.34 billion, up from $63.43 billion in the year-ago period. Analysts polled by FactSet were expecting $64 billion. 


  Sales in the company's health-care benefits segment, which includes Aetna, rose 6.1% to $18.47 billion. It reported a medical-loss ratio, or the share of premiums the insurer pays out in claims, of 70.3%. 


  Sales in its pharmacy-services segment rose slightly to $34.89 billion, partially offset by lower provider visits during the quarter. Its retail segment sales rose 1% to $21.66 billion, though prescriptions filled declined 1.1% on a 30-day equivalent basis. 


  Write to Dave Sebastian at dave.sebastian@wsj.com