Usually means: Company forecasts lower than expected profits.
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We found 4 dictionaries that define the word profits warning:

General (4 matching dictionaries)
  1. profits warning: Longman Dictionary of Contemporary English
  2. profits warning: Wiktionary

Definitions from Wiktionary (Profits warning)

noun:  Alternative form of profit warning [(stock market) An announcement by a company to its shareholders and other investors that its profits are likely to be less than expected.]

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