Watch Mitt Romney Deliver His Concession Speech [VIDEO]

Gov. Mitt Romney gave his concession speech at 12:55 a.m. ET Wednesday morning, following his loss to President Barack Obama.

In the speech, which clocked in at approximately five minutes, Romney wished goodwill on Obama and his family, while calling for a bipartisan American future.

"I believe in America. I believe in the people of America," said Romney, who reportedly didn't have a concession speech planned before the results came in. "This election is over, but our principles endure."

Romney called Obama on the phone minutes before the speech to deliver his congratulations directly.

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