Such satellites are in a geosynchronous orbit (GSO), orbiting at an orbital altitude where orbital period matches Earth's rotation on its axis. Their orbital speed is roughly 3 km/s at mean orbital altitude of 35,786 km above the Earth's surface:
Orbital speeds ($v_o \approx \sqrt{\mu/r}$) at mean altitudes above the Earth's surface (blue) and required speed to keep up with Earth's rotation on its axis, aka the geosynchronous speed (green). Both speeds match at ~ 3,074 m/s at an altitude of ~ 35,783 km above the Earth's surface. Graph is first order approximation, real values are ever so slightly different.
Most commonly, communications satellites are placed in a geostationary orbit (GEO), which is a circular equatorial GSO, so the satellites stay roughly above the same longitude over the Earth's equator, while inclined circular GSO orbits produce a figure eight ground track, and highly eccentric inclined GSO like e.g. Tundra orbits produce an elongated figure eight. Note that some communications satellites might also operate in lower, non-geosynchronous orbits and depend on multiple satellites in constellations to assure constant coverage over specific regions on the Earth's surface, or globally.