Mitt Romney has urged his supporters to earnestly pray for President Obama during a brief but heartfelt concession speech in Boston.
Mr Romney thanked his wife, his family, his vice presidential nominee Paul Ryan during a speech to what was intended to be his victory party.
"Like so many of you, Paul and I have left everything on the field. We have given all to our campaign," he said.
"Ann and I join with you to earnestly pray for him and this great nation. God bless you."
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Mr Romney said he ran for office because he was concerned about the country.
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| Mitt Romney before his concession speech. (AAP) |
"I believe in America — I believe in the people of America," he said.
"This election is over but our principles endure."
The former Massachusetts governor substantially outperformed previous Republican nominee John McCain but still fell short of victory in several key states.
Despite picking up North Carolina and Indiana, he was unable to overcome Mr Obama's popularity in other swing states like Ohio, Nevada, Iowa and Colorado.
Both Florida is yet to be called but Virginia narrowly favoured the Democrat.
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