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W atch a live stream of ABC News election coverage
- Obama: 303
- Romney: 203
- To win: 270
7.49pm: Obama tells his supporters: "You lifted me up the whole way and I will always be grateful."
Obama says politics in a country in a size of the US can be "noisy and messy and complicated".
"These arguments we have are a mark of our liberty," he says. "People in distant nations are risking their lives to argue."
He adds: "Despite all our difference, most of us share certain hopes for America's future."
7.44: President Barack Obama tells supporters: "The task of perfecting our union moves forward. It moves forward because of you. It moves forward because you reaffirmed the spirit that has triumphed over war and depression."
Obama says Americans "rise and fall together as one people and one nation".
"We have picked ourselves up, we have fought our way back and we know in our hearts that for the United States of America, the best is yet to come."
Obama says he congratulated Romney on a "hard-fought campaign".
"The Romney family has chosen to give back to America through public service and that it is an honour and a legacy that we applaud tonight," he says, adding that he will talk to Romney about whether they can work together "to move this country forward".
Obama thanks Joe Biden for being the "best vice president" he could have and pays tribute to his wife Michelle.
"Michelle - I have never loved you more."
7.35pm: President Barack Obama has arrived at his election night event.
7.18pm: British Prime Minister David Cameron has tweeted his congratulations to Barack Obama: "Warm congratulations to my friend @BarackObama . Look forward to continuing to work together."
7.11pm: US correspondent Jack Tame describes the Romney event in Boston as "pretty bleak". He tweets: "And on that note, we'll join Mitt's masses. Bed awaits. @BreakfastonOne does too."
7.01pm: Romney says it is not a time for partisan divide.
"Our leaders have to reach across the aisle to do the people's work," he says. "I believe in America - I believe in the people of America... and I ran for office because I'm concerned about America."
Romney said he and Ryan had "left everything on the field".
"We have given our all to this campaign. I so wish that I had been able to fulfil your hopes to lead the nation in a different direction."
He concluded: "Thank you. And God bless America."
6.57pm: Romney says he has conceded defeat in a phone call to Obama.
"This is a time of great challenges for America and I pray that the president will be succesfull in guiding our nation, he tells supporter.
He pays tribute to his running mate, Paul Ryan.
"Besides my wife Anne, Paul is the best choice I have ever made." Romney says his wife "would have been a wonderful first lady."
6.55pm: Mitt Romney is addressing supporters in Boston.
6.53pm: Watch our live stream of ABC News for Romney's address at his election night event - expected shortly .
6.52pm: Mitt Romney has officially conceded defeat in a phone call to Barack Obama, ABC News reports.
6.48pm: ABC News calls swing state Virginia (13 votes) for Obama.
6.46pm: US correspondent Jack Tame tweets that Mitt Romney is due to speak in five minutes.
6.42pm: CNN and Sky News are calling Virginia (13 votes) for Obama.
6.40pm: ONE News US correspondent Jack Tame, at the Republican election night event in Boston, tweets : "Crazy night of live tele.. still no word when Romney will concede."
6.37pm: Polling has not all been about who becomes president, US media is reporting that Colorado and Washington look likely to legalise marijuana, while Maryland and Maine are passing same-sex marriage measures.
The Huffington Post reports that Wisconsin's Tammy Baldwin has been elected the United States' first openly gay senator.
6.29pm: After media call his victory, Obama tweets: "This happened because of you. Thank you." and later: "We're all in this together. That's how we campaigned, and that's who we are. Thank you. -bo"
6.22pm: Update of projected wins for Romney: Alabama, Arizona, Arkansas, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, North Carolina, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia, Wyoming.
6.19pm: Update of projected wins for Obama: California, Colorado, Connecticut, DC, Delaware, Hawaii, Illinois, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Vermont, Washington and Wisconsin.
6.13pm: ABC News calls the state of Colorado (9 votes) for Obama.
6.08pm: In Chicago at Obama event headquarters, ONE News political editor Corin Dann says the mood "is amazing"
"This place is going to go mental." Dann says Obama is expected "any minute now".
5.58pm: BBC News says Mitt Romney and Paul Ryan have arrived at the Republican event HQ in Boston.
5.51pm: ABC calls Nevada (6 Electoral College votes) for Obama.
5.48pm: Republican Donald Trump tweets: " We can't let this happen. We should march on Washington and stop this travesty. Our nation is totally divided!"
5.41pm: Filmmaker Michael Moore tweets: "This... Is America. 2012. The old days, the old ways, officially gone. This is who we are now. Sorry, world, that you even had to worry..."
5.39pm: The Democrats tweet: "From all of us at the Democratic Party, thank you. You made this possible. Go celebrate!"
5.30pm: ABC news says Obama is now projected to have 275 Electoral College votes and will be the next president of the United States.
It has called critical swing state Ohio (18 votes), Oregon (7 votes) and Iowa (6 votes) for the Democrat.
5.18pm: CNN calls the election for Barack Obama.
5.15pm: ABC News calls Missouri (10 votes) and North Carolina (15 votes) for Romney.
5.06pm: ABC News calls California (55 votes), Washington (12 votes), and Hawaii (4) for Obama and Idaho (4 votes) for Romney.
4.56pm: ABC News calls Arizona (11 Electoral College votes) for Romney.
4.51pm: In Wellington, US Ambassador David Heubner tells ONE News Americans "take our politics very seriously".
But he says the day after Election Day "we come back together as Americans".
4.44pm: The BBC's Philippa Thomas says the Obama event in Chicago is officially under way "we hear president's motorcade is moving - perhaps to hotel before here," she tweets.
4.38pm: US correspondent Jack Tame in Boston tells ONE News it's been an anxious wait at Romney headquarters over the last few hours.
"All hopes at the moment pinned on that state of Florida," he says.
4.33pm: As well as watching ONE News election coverage on TV One and onenews.co.nz you can also w atch a live stream of ABC News .
4.26pm: ABC News calls swing state Wisconsin for Obama (10 votes). The broadcaster says it is now critical for Romney that he wins Ohio.
4.21pm: ABC News calls New Mexico (5 Electoral College votes) for Obama.
4.09pm: ABC calls Montana (3 votes) and Utah (6 votes) for Mitt Romney.
4.01pm: ABC News projects Obama will take the swing state of New Hampshire (4 votes) and Minnesota (10 votes).
3.35pm: ABC News says about 82% of votes in the swing state of Florida (29 Electoral College votes) have been counted, with the result split almost 50-50. Here is the state's election tracker .
3.30pm: To recap. Obama is projected to win District of Columbia, Delaware, Illinois, Massachusetts, Maine, Maryland, Rhode Island, Vermont, Connecticut, New Jersey, Michigan, New York and Pennsylvania.
Romney is projected to win Oklahoma, South Carolina, West Virginia, Indiana, Kentucky, Alabama, Georgia, Tennessee, Mississippi, Arkansas, Nebraska, North Dakota, South Dakota, Texas, Kansas, Wyoming and Louisiana.
3.25pm: Reuters says that while Pennsylvania traditionally votes Democrat, Romney made a concerted effort to woo voters there.
3.22pm: ABC News projects that Obama has won Pennsylvania (20 votes).
3.20pm: The BBC's Philippa Thomas tweets that she is getting "flashbacks" to the 2000 election, when Florida was forecast and then retracted for Gore. "Everyone ULTRACAUTIOUS now!"
3.18pm: ABC, CNN and NBC project that the Republicans hold control of the US House of Representatives.
3.12pm: ABC News calls Michigan (16 votes) and New York (29 votes) for Obama.
It calls Arkansas (6 votes), Nebraska (5 votes), North Dakota (3 votes), South Dakota (3 votes), Texas (38 votes), Kansas (6 votes) and Wyoming (3 votes) and Louisiana (8 votes) for Romney.
2.57pm: Here's a link to a handy vote calculator on the US Electoral College's website.
2.54pm: ABC News calls Mississippi for Romney (6 Electoral College votes).
2.34pm: ABC News calls New Jersey for Obama (14 votes) and Alabama (9 votes), Georgia (16 votes) and Tennessee (11 votes) for Romney.
2.22pm: ABC News calls Connecticut for Obama (7 Electoral College votes).
2.18pm: Polls have now closed in 25 states.
2.18pm: Techcrunch has posted a video of a Pennsylvania voting machine which removed after changing votes for Obama into votes for Romney.
2.14pm: ABC News projects Obama will take District of Columbia (3 Electoral College votes), Delaware (3 votes), Illinois (20 votes), Massachusetts (11 votes), Maine (4 votes), Maryland (10 votes), Rhode Island (4 votes) and that Romney will take Oklahoma (7 votes).
1.56pm: A Reuters/Ipsos exit poll suggests some 60% of early Ohio voters chose Obama for president, while more than half of Ohioans voting on Election Day chose Romney..
1.53pm: ABC News says Barack Obama is heading home to have dinner with his family.
1.43pm: In contrast to Mitt Romney who says he has only a victory speech prepared, Obama tells Denver TV station FOX31: "You always have two speeches prepared because you can't take anything for granted."
1.41pm : ABC News projects South Carolina for Mitt Romney (9 votes).
1.35pm: ABC News calls West Virginia for Romney (5 votes).
1.17pm: The ABC calls Vermont for Obama (3 Electoral College votes), with Indiana (11 votes) and Kentucky (8 votes) for Romney.
1.07pm: A Reuters exit poll suggests that firt-time voters have been voting for Obama by a two-to-one margin. It says they are more likely to think the country is on the right track.
1.03pm: With polls closed in six states, CNN says Obama is projected to take Vermont - with three Electoral College votes - while Romney is projected to take Kentucky, with 8 Electoral College votes.
12.59pm: The Democrats tweet: "If you're in line to vote, stay put. As long as you're in line when the polls close, you can cast a ballot.
12.48pm: Mitt Romney tells reporters he is "very proud" of his election campaign.
"I'm sure like any campaign, people can talk to mistakes, but that's going to be part of anything that's produced by human beings," he says.
12.44pm: CNN reports that 3% of votes have now been counted in Indiana, with 60% going to Romney and 38% to Obama.
12:40pm: The Huffington Post says voters are reporting 3-hour waits at polling booths in Northern Virginia.
12.37pm: New Jersey's chief election official says it had become apparent that the "County Clerks are receiving applications at a rate that outpaces their capacity to process them" without an extension of the current schedule.
12.33pm: The deadline for electronic voting in the state of New Jersey has been extended until 8pm on Friday (2pm Saturday NZT) in the wake of superstorm Sandy.
12.21pm: BBC correspondent Mark Mardell reports that Romney claims to have written only one speech for election night - a victory speech that runs to 1,118 words.
12.12pm: CNN reports that with just one per cent of the official vote counted in the state of Kentucky, Romney is ahead with 69% to Obama's 29%.
In Indiana - also with one per cent of votes counted - the Republican is also ahead with 59% to Obama's 39%, the broadcaster says.
12.10pm: CNN correspondent Brianna Keilar says Obama's team is a "superstitious bunch" who will see his win in the traditional Election Day basketball as a good omen. "The president, he likes to win," she says.
12.01pm: Basketball legend Earvin "Magic" Johnson tweets: "The future belongs to young people & they're showing up to vote in huge numbers. be a part of this & #VoteObama!
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