Gyro Ball has higher base power the slower the user is relative to the target. Its power increases based on the difference between the speed of the target and the speed of the user. It damage calculation still takes your Attack stat into account, however:
0 Atk Ferrothorn Gyro Ball (126 BP) vs. 0 HP / 0 Def Weavile: 366-432 (130.2 - 153.7%) -- guaranteed OHKO
252 Atk Ferrothorn Gyro Ball (126 BP) vs. 0 HP / 0 Def Weavile: 468-552 (166.5 - 196.4%) -- guaranteed OHKO
As you can see, the Ferrothorn with a higher Attack deals more damage.
The exact formula to find the base power is in the Bulbapedia article below.
Source