Init commit with many years of arduino sketches and projects. I dont know if the esp8266 includes much, but there are also libraries. I hope they dont have crazy automatic versioning through the Arduino IDE.

Projects/libraries/Installed_libs/Time/Examples/TimeGPS/TimeGPS.pde

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+/*
+ * TimeGPS.pde
+ * example code illustrating time synced from a GPS
+ * 
+ */
+
+#include <Time.h>
+#include <TinyGPS.h>       //http://arduiniana.org/libraries/TinyGPS/
+#include <NewSoftSerial.h>  //http://arduiniana.org/libraries/newsoftserial/
+// GPS and NewSoftSerial libraries are the work of Mikal Hart
+
+TinyGPS gps; 
+NewSoftSerial serial_gps =  NewSoftSerial(3, 2);  // receive on pin 3
+
+const int offset = 1;   // offset hours from gps time (UTC)
+time_t prevDisplay = 0; // when the digital clock was displayed
+
+void setup()
+{
+  Serial.begin(9600);
+  serial_gps.begin(4800);
+  Serial.println("Waiting for GPS time ... ");
+  setSyncProvider(gpsTimeSync);
+}
+
+void loop()
+{
+  while (serial_gps.available()) 
+  {
+    gps.encode(serial_gps.read()); // process gps messages
+  }
+  if(timeStatus()!= timeNotSet) 
+  {
+     if( now() != prevDisplay) //update the display only if the time has changed
+     {
+       prevDisplay = now();
+       digitalClockDisplay();  
+     }
+  }	 
+}
+
+void digitalClockDisplay(){
+  // digital clock display of the time
+  Serial.print(hour());
+  printDigits(minute());
+  printDigits(second());
+  Serial.print(" ");
+  Serial.print(day());
+  Serial.print(" ");
+  Serial.print(month());
+  Serial.print(" ");
+  Serial.print(year()); 
+  Serial.println(); 
+}
+
+void printDigits(int digits){
+  // utility function for digital clock display: prints preceding colon and leading 0
+  Serial.print(":");
+  if(digits < 10)
+    Serial.print('0');
+  Serial.print(digits);
+}
+
+time_t gpsTimeSync(){
+  //  returns time if avail from gps, else returns 0
+  unsigned long fix_age = 0 ;
+  gps.get_datetime(NULL,NULL, &fix_age);
+  unsigned long time_since_last_fix;
+  if(fix_age < 1000)
+    return gpsTimeToArduinoTime(); // return time only if updated recently by gps  
+  return 0;
+}
+
+time_t gpsTimeToArduinoTime(){
+  // returns time_t from gps date and time with the given offset hours
+  tmElements_t tm;
+  int year;
+  gps.crack_datetime(&year, &tm.Month, &tm.Day, &tm.Hour, &tm.Minute, &tm.Second, NULL, NULL);
+  tm.Year = year - 1970; 
+  time_t time = makeTime(tm);
+  return time + (offset * SECS_PER_HOUR);
+}