Canadian voters have given the governing Liberals, led by owlish central banker and businessman Mark Carney, a fourth term after a snap parliamentary election prompted by U.S. President Donald Trump’s threats to take over Canada.

On Monday night, decision desks at major Canadian broadcasters like CBC, CTV and Global News made projections that the Liberals would form the next government soon after 10 p.m., when polls in British Columbia closed. However, decision desks at major TV networks stopped short of projecting whether Carney, voted in as Canada’s next leader, would see his Liberals win an outright majority or would end the election with a minority government and needing coalition partners to govern.

In the early hours of Tuesday, as vote counting was paused until later in the day, the Liberals had been elected or were leading in 168 seats, with 172 seats required to form a majority. Finally, late afternoon on Tuesday,...