Google hedge its foreign exchange exposure? Explain what exposure Google faces first.

Please go into detail and cite all external sources used.

Point Yes. Google should hedge its foreign exchange exposure. The international business accounts for a significant part of its revenue or cost. If not hedged, significant loss could be incurred.

Counter-Point No. Google should not hedge its foreign exchange exposure. The international business is not significant for Google. It is well diversified in geographic locations so that it is not necessary to hedge foreign exchange exposure. Plus the profit margin is thin for our business and hedging costs money.