Enough electoral college votes are in for even right-wing network Fox News to call it for Obama.
The first African-American president has won a second term.
Electoral college votes at 5.20pm are 274 to Obama to 201 for Romney.
“The result is a positive one for most of you here,” US Consul General Jim Donegan told a crowd at AUT University.
“Remember there are other races on that will have a profound effect on the US.
“Thanks for coming – see you again in four years.”