Watch Mitt Romney Deliver His Concession Speech [VIDEO]

Gov. Mitt Romney gave his concession speech at 12:55 p.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."

SEE ALSO: Barack Obama Tweets Victory in 2012 Presidential Election

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

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More About: 2012 presidential campaign, Mitt Romney, Politics, US