Definition of profit verb from the Oxford Advanced Learner's Dictionary

 

profit

 verb
verb
BrE BrE//ˈprɒfɪt//
 
; NAmE NAmE//ˈprɑːfɪt//
 
Verb Forms present simple I / you / we / they profit
BrE BrE//ˈprɒfɪt//
 
; NAmE NAmE//ˈprɑːfɪt//
 
he / she / it profits
BrE BrE//ˈprɒfɪts//
 
; NAmE NAmE//ˈprɑːfɪts//
 
past simple profited
BrE BrE//ˈprɒfɪtɪd//
 
; NAmE NAmE//ˈprɑːfɪtɪd//
 
past participle profited
BrE BrE//ˈprɒfɪtɪd//
 
; NAmE NAmE//ˈprɑːfɪtɪd//
 
-ing form profiting
BrE BrE//ˈprɒfɪtɪŋ//
 
; NAmE NAmE//ˈprɑːfɪtɪŋ//
 
Running a business
 
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[intransitive, transitive] (formal) to get something useful from a situation; to be useful to somebody or give them an advantage profit (from something) Farmers are profiting from the new legislation. profit (by something) We tried to profit by our mistakes (= learn from them). profit something Many local people believe the development will profit them. See related entries: Running a business Word Origin Middle English (in the sense ‘advantage, benefit’): from Old French, from Latin profectus ‘progress, profit’, from proficere ‘to advance’, from pro- ‘on behalf of’ + facere ‘do’. The verb is from Old French profiter.Extra examples A few greedy companies are profiting hugely at the expense of the most vulnerable consumers. Convicted criminals should not be allowed to profit from their crimes. The private sector will profit by selling the surplus electricity abroad.
See the Oxford Advanced American Dictionary entry: profit