Chip giant TSMC warns of 'excessive inventory' at clients

Company's profit soared over 76% to record in April-to-June quarter

Taiwanese chip giant TSMC racked up a record net profit in the quarter from April to June, but analysts warn of economic headwinds over the rest of the year. © Reuters

CHENG TING-FANG and LAULY LI, Nikkei Asia tech correspondents

July 14, 2022 14:59 JST

Updated on July 14, 2022 20:09 JST

TAIPEI -- Taiwan Semiconductor Manufacturing Co. on Thursday said its profit surged over 76% to a record level in the April-to-June quarter, but also warned of "excessive inventory" at its clients over the rest of the year and beyond, potentially tainting the outlook for the world's biggest contract chipmaker.