BOSTON, MA - NOVEMBER 07: Republican presidential candidate, Mitt Romney, waves to the crowd while speaking at the podium as he concedes the presidency during Mitt Romney's campaign election night event at the Boston Convention & …
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WASHINGTON (AP) - Mitt Romney is conceding that his hard-fought presidential bid has ended in failure. He told supporters in Boston that he gave it his all and that he is now praying that President Barack Obama will be successful in guiding the nation.
Romney said, "This election is over, but our principles endure."
Obama, meanwhile, tweeted to supporters, "This happened because of you. Thank you."
Obama was chalking up additional victories in states that the polls had said could go either way. After winning Virginia's 13 electoral votes, he had a margin of 100 electoral votes -- 303 to 203 -- with just Alaska and Florida still to count.
Florida's result remained too close to call, hours after the polls closed.
Despite Obama's sizeable margin in the electoral vote count, he held just a slim advantage in the popular vote.
To watch the ABC video of Romney's concession speech, click on the video player below. (Note to mobile and tablet users: Open story in a browser to watch the video.)
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After secretive talks, key senators expressed optimism Wednesday night that they were closing in on a bipartisan agreement to toughen the border security requirements in immigration legislation that also offers a path to citizenship to millions living in the country illegally.