President Barack Obama said Wednesday that we are all "rooting" for President-elect Donald Trump following his staggering defeat of Hillary Clinton.

Obama said that he called Trump early Wednesday, at about 3:30 a.m., to congratulate him on his victory and to discuss the transition of power.

While he said it's "no secret that President-elect Trump and I have some pretty significant differences," Obama said that the same was true for him and his predecessor George W. Bush. Still, that didn't hinder a successful transition of power, Obama explained. He stressed that his team will work toward a successful transition of power.

"We are now all rooting for his success in uniting and leading the country," Obama said.

The president urged young people to stay encouraged rather than becoming cynical following Clinton's loss.

"Everybody is sad when their side loses an election ... but we're actually all on one team," he said, adding that Americans are "patriots first."

Obama also said that he "could not be prouder" of Hillary Clinton, adding that "she has lived an extraordinary life of service."