Originally Posted by
RFTraveler
While it's true that the data transmission from all satellites carries the time information (to be exact, the time at THAT satellite), most consumer GPS units won't decode and display that information. Until there are enought SV (satellites) received and decorrelated, the unit will most likely display the time that it's calculated based on time passed from the last fix. Now, when the unit has calculated it's position (minimum of 3 satellites for a 2-d fix, 4 for a 3-d fix), it will also have calculated the Zulu-time for the unit's location (all GPS time is in Zulu/GMT) and will display 'local' based on the device settings.
RFTraveler

Great explanation. ^ thank you.
Most people do not realize that the GPS signals take time to reach
you. The signals travel approximately at the speed of 1,079,252,848.8 km/h
and by the time they reach you, the time ticks are old already.
How old? you can only find out by comparing them to other ticks.