Ellison also forecast that Oracle’s cloud ERP products, which include NetSuite ERP, will have $20 billion in annual revenue by then. That is up from the current $4.9 billion in annualized revenue that CEO Safra Catz attributed to “strategic back-office applications”. Cloud growth, Ellison said, is overwhelming from new customers, “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,” Ellison said. Those predictions came as NetSuite revenue was up 28 percent year-over-year for the most recently ended quarter. Fusion ERP business increased by 25 percent and Fusion HCM by 25 percent. The company did not specifically state how many NetSuite customers were added during the quarter and it is a bit confusing how many there are as during the earnings webcast for the first quarter of fiscal 2022, Ellison said there were more than 28,000 NetSuite customers. Ellison projected Fusion ERP to have 30,000 customers within five years with the expectation that the remaining 65,000 Oracle on-premise customers will be among them. The executive said there were 8,000 Fusion ERP customers at the end of the first quarter during the earnings webcast for that period and Ellison said there are now 8,500. That means a 6.3-percent increase in the number of Fusion customers produced a 25-percent rise in revenue.