What are Color Profiles?
Color Profiles are files that contain instructions to tell Lightroom how to interpret RAW files. Based on the color profile you use, the tones, colors, and other aspects of the photo will change.
Color Profiles are the evolution of presets as we know them. They left you achieve the same initial effect as a preset, but allow for many different variations in the editing process. You can even add an additional preset while working within a color profile!