Speed and velocity share many similarities, speed is a scalar property while velocity is a vector property. A vector is a scalar quantity with a direction attached to it.
The speed of an object refers to how fast an object is moving across a distance. It can be calculated by dividing the distance traveled by the time it took to travel it. Velocity includes both a speed and a direction. An example of an average speed during a trip would by 50 miles per hour while the corresponding velocity might be 50 miles per hour directly north. Speed and velocity are both the same only for a stationary object.