REPORTER: Celebrations in Chicago as U.S. President Barack Obama rolled to re-election and a second term in the White House with a clear victory over Republican challenger Mitt Romney.
U.S. PRESIDENT BARACK OBAMA: "Tonight in this election you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back and we know in our hearts that for the United States of Amercia the best is yet to come."
REPORTER: Romney conceded the race in his hometown of Boston.
MITT ROMNEY: "I have just called President Obama to congratulate him on his victory. His supporters and his campaign also deserve congratulations."
REPORTER: The same problems that dogged Obama in his first term are still there to confront him again. He will face a difficult task of tackling deficits and a mounting debt and a gridlocked Congress. But after a hard fought victory, for his supporters it was time for celebration in Chicago and other parts of the country.
• Americans hand Obama a second term, challenges await (Reuters)
• Obama's victory speech in full (The Telegraph)
• President Obama wins re-election - video (Newsy)