Nasdaq on Wednesday reported that its second-quarter profit dropped 5.4%, as the tech-heavy exchange operator saw expenses rise sharply.

For the second quarter, Nasdaq reported a profit of $88 million, or 52 cents a share, versus a year-earlier profit of $93 million, or 53 cents a share. Stripping out non-recurring items, earnings came in at 62 cents a share from 64 cents a share