Comcast's (CMCSA) - Get Report first-quarter results are expected to show more small gains in adding video subscribers, but investors will be looking to hear more about its recent wireless plans, which could have big implications down the line.

Goldman Sachs analyst Brett Feldman noted that the approach Comcast is taking towards wireless is a "low-cost, low-risk" one, as it's not going head-to-head with the big telecom players, but rather becoming a mobile virtual network operator (MVNO) and leveraging its existing 16 million Wi-Fi hotspots.

"Not immediately disruptive to the wireless market, but not to be overlooked Comcast does not appear to have an aggressive go-to-market strategy," Feldman wrote in a note to investors. "Instead, it is looking to leverage its typical interactions with its existing customers to promote its wireless offer... As such, modest but persistent growth in Comcast's wireless business could be more of an incremental threat to AT&T and Verizon than Sprint and T-Mobile, which have lower share at the high-end of the market."

Investors may get more updates on the roll-out of its aforementioned Xfinity MOBILE platform, along with what the takeaways are from recent Netflix (NFLX) - Get Report integration and upcoming YouTube integration are towards traffic on its platforms. And with recent box-office success for the latest blockbuster, Fate of the Furious, investors are likely to wonder how the company's NBCUniversal division is looking at operating in an ever changing media landscape.

Fate of the Furious has generated more than $900 million in ticket sales so far, making it the second biggest movie of 2017, behind Disney's Beauty and the Beast, according to Box Office Mojo.

Analysts surveyed by Yahoo! Finance expect the company to earn 44 cents a share on $20.12 billion in revenue for the quarter. 

Over the past 12 months, shares of Comcast have gained nearly 25% excluding dividends, compared to the near 11% gain in the S&P 500.

Here are five ETFs that may benefit if investors like Comcast's first-quarter results.

Consumer Discretionary Select Sector SPDR Fund

The $12.16 billion Consumer Discretionary Select Sector SPDR Fund (XLY) - Get Report  has Comcast make up 7.09% of its portfolio, charging investors an expense ratio of 0.15%.

Goldman Sachs's Feldman wrote that the launch of Xfinity MOBILE could increase competition in the space. 

"Despite lower pricing, CMCSA expects wireless to be NPV positive at minimal scale on a per sub basis as it leverages existing marketing and distribution channels to sell to existing customer relationships," Feldman wrote in a separate note to investors. "CMCSA expects to reach that level of scale when its wireless subscriber base reaches mid-single digit penetration of its 25 million high-speed-data subscriber base. If CMCSA is successful, we see more risk to T and VZ (vs. TMUS and S), who over-index to the high value conscious subs CMCSA is targeting."

iShares U.S. Consumer Services ETF

The $657.4 million iShares U.S. Consumer Services ETF (IYC) - Get Report  has Comcast make up 5.68% of its portfolio, charging investors an expense ratio of 0.43%.

Morgan Stanley analyst Benjamin Swinburne, who has an overweight rating and a $42 price target on shares, believes that NBCUniversal is likely to see accelerating growth in 2017. 

"NBCU growth is likely to accelerate in '17E, despite the Olympics comp," Swinburne wrote to investors. "Further, we see potential upside from Film and continued momentum in Parks in '17E."

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Vanguard Consumer Discretionary ETF

The $2.17 billion Vanguard Consumer Discretionary ETF (VCR) - Get Report  has Comcast make up 5.67% of its portfolio, charging investors an expense ratio of 0.12%.

Wells Fargo analyst Marci Ryvicker noted that the company's recent $1.7 billion 600MHz spectrum purchase and the April 6 launch of Xfinity MOBILE are likely to garner significant attention. 

Fidelity MSCI Consumer Discretionary Index ETF

The $268.6 million Fidelity MSCI Consumer Discretionary Index ETF (FDIS) - Get Report  has Comcast make up 5.67% of its portfolio, charging investors an expense ratio of 0.08%.

PowerShares S&P 500 Momentum Portfolio ETF

The $1.4 million PowerShares S&P 500 Momentum Portfolio ETF (SPMO) - Get Report  has Comcast make up 4.56% of its portfolio, charging investors an expense ratio of 0.25%.

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