diff --git a/src/lightning/pytorch/CHANGELOG.md b/src/lightning/pytorch/CHANGELOG.md
index 39eb6e7265..2cb0d04d0a 100644
--- a/src/lightning/pytorch/CHANGELOG.md
+++ b/src/lightning/pytorch/CHANGELOG.md
@@ -11,6 +11,8 @@ The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/).
 
 - Made saving non-distributed checkpoints fully atomic ([#20011](https://github.com/Lightning-AI/pytorch-lightning/pull/20011))
 
+- Added `dump_stats` flag to `AdvancedProfiler` ([#19703](https://github.com/Lightning-AI/pytorch-lightning/issues/19703))
+
 -
 
 ### Changed
diff --git a/src/lightning/pytorch/profilers/advanced.py b/src/lightning/pytorch/profilers/advanced.py
index 9e166b5e34..467b47124e 100644
--- a/src/lightning/pytorch/profilers/advanced.py
+++ b/src/lightning/pytorch/profilers/advanced.py
@@ -16,13 +16,17 @@
 import cProfile
 import io
 import logging
+import os
 import pstats
+import tempfile
 from pathlib import Path
 from typing import Dict, Optional, Tuple, Union
 
 from typing_extensions import override
 
+from lightning.fabric.utilities.cloud_io import get_filesystem
 from lightning.pytorch.profilers.profiler import Profiler
+from lightning.pytorch.utilities.rank_zero import rank_zero_only
 
 log = logging.getLogger(__name__)
 
@@ -40,6 +44,7 @@ class AdvancedProfiler(Profiler):
         dirpath: Optional[Union[str, Path]] = None,
         filename: Optional[str] = None,
         line_count_restriction: float = 1.0,
+        dump_stats: bool = False,
     ) -> None:
         """
         Args:
@@ -54,6 +59,8 @@ class AdvancedProfiler(Profiler):
                 reported for each action. either an integer (to select a count of lines),
                 or a decimal fraction between 0.0 and 1.0 inclusive (to select a percentage of lines)
 
+            dump_stats: Whether to save raw profiler results. When ``True`` then ``dirpath`` must be provided.
+
         Raises:
             ValueError:
                 If you attempt to stop recording an action which was never started.
@@ -61,6 +68,7 @@ class AdvancedProfiler(Profiler):
         super().__init__(dirpath=dirpath, filename=filename)
         self.profiled_actions: Dict[str, cProfile.Profile] = {}
         self.line_count_restriction = line_count_restriction
+        self.dump_stats = dump_stats
 
     @override
     def start(self, action_name: str) -> None:
@@ -75,10 +83,27 @@ class AdvancedProfiler(Profiler):
             raise ValueError(f"Attempting to stop recording an action ({action_name}) which was never started.")
         pr.disable()
 
+    def _dump_stats(self, action_name: str, profile: cProfile.Profile) -> None:
+        assert self.dirpath
+        dst_filepath = os.path.join(self.dirpath, self._prepare_filename(action_name=action_name, extension=".prof"))
+        dst_fs = get_filesystem(dst_filepath)
+        dst_fs.mkdirs(self.dirpath, exist_ok=True)
+        # temporarily save to local since pstats can only dump into a local file
+        with tempfile.TemporaryDirectory(
+            prefix="test", suffix=str(rank_zero_only.rank), dir=os.getcwd()
+        ) as tmp_dir, dst_fs.open(dst_filepath, "wb") as dst_file:
+            src_filepath = os.path.join(tmp_dir, "tmp.prof")
+            profile.dump_stats(src_filepath)
+            src_fs = get_filesystem(src_filepath)
+            with src_fs.open(src_filepath, "rb") as src_file:
+                dst_file.write(src_file.read())
+
     @override
     def summary(self) -> str:
         recorded_stats = {}
         for action_name, pr in self.profiled_actions.items():
+            if self.dump_stats:
+                self._dump_stats(action_name, pr)
             s = io.StringIO()
             ps = pstats.Stats(pr, stream=s).strip_dirs().sort_stats("cumulative")
             ps.print_stats(self.line_count_restriction)
diff --git a/tests/tests_pytorch/profilers/test_profiler.py b/tests/tests_pytorch/profilers/test_profiler.py
index 6f92788e27..5b0c13e605 100644
--- a/tests/tests_pytorch/profilers/test_profiler.py
+++ b/tests/tests_pytorch/profilers/test_profiler.py
@@ -308,6 +308,19 @@ def test_advanced_profiler_describe(tmp_path, advanced_profiler):
     assert len(data) > 0
 
 
+def test_advanced_profiler_dump_states(tmp_path):
+    advanced_profiler = AdvancedProfiler(dirpath=tmp_path, dump_stats=True)
+    """Ensure the profiler dump stats during summary."""
+    # record at least one event
+    with advanced_profiler.profile(action_name := "test"):
+        pass
+    # dump_stats to file
+    advanced_profiler.describe()
+    path = advanced_profiler.dirpath / f"{action_name}.prof"
+    data = path.read_bytes()
+    assert len(data) > 0
+
+
 def test_advanced_profiler_value_errors(advanced_profiler):
     """Ensure errors are raised where expected."""
     action = "test"