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