After a long wait, Oracle is finally poised to release its next-generation Fusion Applications, which are supposed to combine the best attributes of its various acquired software lines.

Oracle customers are thinking about Fusion Applications in different ways depending on their particular situation, Wang said. Die-hard "Red Stack" customers that are already heavily invested in Oracle technologies are mostly moving to E-Business Suite 12 and then to Fusion Applications, while customers who find their vendors acquired by Oracle "tend to be in a wait-and-see mode," he said.

"I can also say there are some old-time Oracle customers from the 1990s also contemplating a look at SAP," Wang added.

"A number" of Fusion Applications customers are now live, Ellison said during the conference call.

The software will be available on Oracle's cloud infrastructure as well as on customers' private clouds, he said. Oracle's cloud will offer customers "a much higher degree of security" than that of competitors such as Salesforce.com, he claimed.