Facebook is making more money than ever from user content.

The company said in its quarterly report with the SEC on Thursday that it generated more than $5 per user for the first time. Average revenue per user, or ARPU, rose 26 percent from a year earlier to $5.07.

Users in the U.S. and Canada, were more profitable than elsewhere, with ARPU in those countries rising 35 percent to $21.20.

On Wednesday, Facebook said third-quarter revenue surged 47 percent to $10.3 billion, and the company reported that it has 2.07 billion users.

Facebook shares dropped 2.1 percent on Thursday to $178.92, after the company said expenses will jump between 45 percent and 60 percent next year, more than some analysts expected.