http://www.nvidia.com/object/io_1234300989054.html

SANTA CLARA, CA—FEBRUARY 10, 2009—NVIDIA Corporation today reported financial results for the fourth quarter of fiscal 2009 and the fiscal year ended January 25, 2009.

For the fourth quarter of fiscal 2009, revenue was $481.1 million compared to $1.2 billion for the fourth quarter of fiscal 2008, a decrease of 60 percent. For the twelve months ended January 25, 2009, revenue was $3.4 billion compared to $4.1 billion for the twelve months ended January 27, 2008, a decrease of 16 percent.

NVIDIA's results for the fourth quarter of fiscal 2009, computed in accordance with U.S. generally accepted accounting principles (GAAP), included a net loss of $147.7 million, or $0.27 per share. Non-GAAP net loss for the fourth quarter of fiscal 2009, which excludes stock-based compensation charges, a benefit from insurance proceeds received, a non-recurring charge against operating expenses related to termination of a development agreement, a restructuring credit against operating expenses, and the associated tax impact of these items, was $94.4 million, or $0.18 per share.

(more at the link)

And I thought they were doing better then AMD(ATI)

That's a massive loss in revenue. NVidia's been living off of high end cards even more than ATI has, and it's apparent that people aren't buying them as frequently anymore. WoW is four years old. The other games du jour on the PC at the moment, TF2 and L4D, are also less straining than, say, Crysis. The lack of games pushing that high end (a la Crysis, the single game in the last couple years to really push PC tech) is killing NVidia, imo.

Well it's also probably because Nvidia had to rapidly cut the prices of their cards last year to compete with ATI's 4800 series of cards. Since the 4800 cards offered much better price/performance at least initially(now they are roughly even). Lower prices results in less revenue. With the previous generation of cards, ATI couldn't compete as well, so Nvidia was able to maintain a higher price point especially on their higher end cards.

I think someone should have told nVidia that there has been a recession for a year and a half. If they had any sense at all they would have been a lot more cautious and a lot less willing to sell the products they did. Serves them right for not having a good goddamned clue as to what is HEALTHY for the market.

And yes, the recession has been going on for at least that long.  The only reason it wasn't declared "official" was because the Bush stimulus essentially reset the clock, as it were.  Nonetheless the economy has bee on the down swing for more than long enough time for nVidia and everyone else to prepare for this situation.  And anyone with a brain did.  nVidia apparently lacks those.

well the power of the cards as of late is not needed at all, to be honest, so why waste your money on it, thats what people re thinking. I mean i was going to another one of my cards and put it into sli mode but i didnt in the end. i dont se the point.

Frome time i can play all the games at like 1080p maxed out with playable FPS. then i dont really care. playabe is 30+ by the way.