Hi,
The gps sends out the latitude and longitude of where it is about once a second in the format of Degrees and metric minutes.
to calculate distance you need to use the ‘Haversine’ formula.
http://www.movable-type.co.uk/scripts/latlong.html
This calculates the distance between two points while taking into account the curvature of the earth so you get an reasonably accurate distance traveled.
To calculate the speed you use Speed = Distance/time
I have found that calculating speed over a 4 second period seems to produce a more accurate result than sampling over shorter time intervals.
Hope that helps