Extension gd is missing from your system - laravel composer Update
I have installed php7, I did the following to solve exactly the same error
sudo apt-get install php7.0-gdsudo apt-get install php7.0-intlsudo apt-get install php7.0-xsl
If you are working in PHP version 5.* then you have to install
sudo apt-get install php5-gd
And if you are working in PHP version 7.* then you have to install
sudo apt-get install php7.0-gd
Hope it will work...
And if you are working in PHP version 7.2 then you have to install
sudo apt-get install php7.2-gd... it worked for me
It may not be enabled for php-cli, you can enable like this;
sudo phpenmod gd
UPDATE
I guess, you are using ppa:ondrej php package (5.6), which is confusing you with default ubuntu 14.04 php package (5.5.9).
To install php 5.6 gd library from ppa:ondrej, you should use:
sudo apt-get install php5.6-gd