As news spread of President Barack Obama taking key victories in Oregon, Iowa and Ohio, several news networks called the race.
President Barack Obama, according to several national news sources, will server another term.
As Obama supporters celebrated, the Associated Press reported the mood at Romney's headquarters to be much different.
"The mood at Romney's headquarters event was grim. Staffers were beginning to trickle in, almost all expressing shock or surprise that so many states had voted for Obama," The Associated Press reported.
Obama thanked supporters on Twitter as major news networks began to call the race.
"This happened because of you," he said.
How do you like me now?
As President Barack Obama wrapped up victories in several key states, the song "How Do You Like Me Now?" blared over the convention center loudspeaker at his election night rally in Chicago. Then the center began to dance and sway to the Beatles "Twist and Shout."
* The Associated Press contributed to this report