“And I think the number would be approaching $20 billion in cloud ERP, where the majority of those customers are not people who are migrating, our customers that are migrating from Oracle's on-prem business, but they're migrating from other people's on-prem business.”

In context

“illion a year revenue, and we have 8,500 Fusion customers. But remember only 1,000 of those 8,500 came from our old on-premise business. 6,500, plenty to come. So 7,500 of these 8,500 were not running Oracle ERP before we came out with our cloud product. Those are all new customers. Add to that the 28,000 new NetSuite customers. So Oracle has a total of 35,500 cloud ERP customers that are new to Oracle. Only 1,000 of our on-premise installed base has migrated so far. Let me repeat that. 35,500 net new cloud ERP customers we got in the last few years. Only 1,000 from our installed base that's going to be coming to us later on. So how fast is cloud ERP revenue growing about? So growing about 30% a year. And so let's look out five years and ask the question, how big will we be in five years? And I think the number would be approaching $20 billion in cloud ERP, where the majority of those customers are not people who are migrating, our customers that are migrating from Oracle's on-prem business, but they're migrating from other people's on-prem business. Whether it's a small company like Infor or a large company like SAP or a variety of other companies, the vast majority of our cloud ERP customers are not coming from our installed base, they are coming from someone else's installed base. And again, yes – 85% of our current – that we have are from someone else's installed base. So what are our margins in this five year? Let's say, we are estimating $20 billion cloud ERP business. Well, it's scale, at that scale, that's about an 85% margin in that business. And as Safra pointed out earlier in her comments, the cloud business is inherently much more profitable and much more predictable than our old on-premise business. So we expect five years from now – and again, these are just estimates. But based on growth rates and the size of our curren”