President Barack Obama will serve a second term after a tight race that went down to the wire on Tuesday night, according to a CNN projection.

Tuesday's dramatic election results were the culmination of a hard-fought campaign that lasted for more than a year.

As President Obama took the ever-blue Northeast and Mitt Romney won the conservative base, it was battleground states such as Virginia and Ohio that made all the difference in the outcome.

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Out of the total 538 electoral votes, President Obama has already won 274, needing only 270 to secure a victory.

Before the final results came in, The Associated Press reports that Romney congratulated Obama from Boston, Massachusetts on running a "strong campaign." Likewise, Obama reportedly addressed his opponent from a campaign office in Chicago, saying, "Congratulations on a spirited campaign. I know his supporters are just as engaged, just as enthusiastic and working just as hard today."

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Just as Obama became the first black president in 2008, this year Romney became the first Mormon to win a nomination for the executive office.



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