Adjust UILabel height depending on the text

Question

Consider I have the following text in a UILabel (a long line of dynamic text):

Since the alien army vastly outnumbers the team, players m

Answer 1

And for those that are migrating to iOS 8, here is a class extension for Swift:

extension UILabel {

    func autoresize() {
        if let textNSString: NSString = self.text {
            let rect = textNSString.boundingRectWithSize(CGSizeMake(self.frame.size.width, CGFloat.max),
                options: NSStringDrawingOptions.UsesLineFragmentOrigin,
                attributes: [NSFontAttributeName: self.font],
                context: nil)
            self.frame = CGRectMake(self.frame.origin.x, self.frame.origin.y, self.frame.size.width, rect.height)
        }
    }

}