President Barack Obama has beaten Mitt Romney to win a second term in the White House.

Romney had just given an emotional concession speech, with Obama then takes the stage to deliver a speech to thousands of excited supporters.

“We know that the best is yet to come,” Obama told supporters.

He said the American people have “picked ourselves up” and fought back during tough economic times.

Obama also said he wants to meet with Republican rival Mitt Romney to discuss how they can work together. He said they may have “battled fiercely, but it’s only because we love this country deeply.”

Obama prevailed in the face of a weak economy and high unemployment that encumbered his first term and crimped the middle class dreams of millions.

The president sealed his victory in Ohio, Iowa, New Hampshire and Colorado, four of the nine battleground states where the two rivals and their allies spent nearly $1 billion on dueling television commercials.