It's fairly clear at this point that Benjamin Netanyahu has won re-election by a fairly substantial margin. And much of the punditry before the election has turned out to be very wrong. Let's look at some of the results.
As of right now, with about 75% of the vote counted, these are the numbers
Likud -31
Zionist Union - 24
Yesh Atid - 11
The Joint List - 11
Kulanu - 9
Bayit Yehudi - 8
Shas - 8
Yisrael Beytenu - 7
United Torah Judaism - 6
Meretz - 5
There was some early talk that Netanyahu had 'cannibalized' the parties on the right, taking their voters in an attempt to beat ZU. Looking at the numbers, it's clear that this is not the case, though some voters obviously switched from Bayit Yehudi (who was expected to get more seats) to Likud. But YB outperformed the pre-election polls and so did Shas. The only disappointment to the right will be the failure of Yachad to cross the threshold - 'wasting' 3% of the vote. Had they done a little better, the number of seats on the right would probably be even higher. As it is, they are at 60 not counting Kulanu and 69 if you do. This is a pickup of several seats from the last election.
It also seems likely that The Joint List will not become the leading opposition party. I always considered it likely that the JL would separate shortly after the election - it's a mashup of 4 very different parties as it is - and they are currently in 4th place. While it's possible Yesh Atid will be in the new government, it seems very unlikely that the ZU will be.
It's hard to say who is the biggest loser of this election - I can't say Herzog because he improved on what his party had done before. It's probably Lapid, but he'd be smart to try and get back into the government and ask for the Foreign Ministry. And Netanyahu would be wise to let him have it. Lieberman did get a last minute surge, but it's clear that he won't get one of the 'big three' cabinet posts, so I wouldn't put him in the winners' column, either.
If these numbers hold, it means Netanyahu can put together a government where no one party can bring him down. Likud + BY + Kulanu + Shas + UTJ + YB = 69. If he's able to add Yesh Atid, that makes it even stronger.