Earth is really, really big (in comparison to that projectile). In order for an object to completely penetrate it, it would need to have enough force to go through 12,742 kilometers of solid and liquid. It would need either extreme mass or extreme speed.
in the case of extreme mass, at a certain point, the object wouldn't go straight through earth as much as tear it apart from a distance due to gravitational forces and the roche limit. This happens at the approach side, not at the exit side.
In the case of extreme speed, at a certain point, an object would be so fast that the collision turns the object and a large part of earth into plasma. The object itself would not survive as shown in the image, unless it's also extremely resistant to the massive forces involved in this event.
So an object which would be capable of this would need to be both extremely massive and extremely fast. As luck would have it, Randall Munroe actually made an educated guess on the consequences of a 100 meter wide diamond meteor striking earth at relativistic speeds. His conclusion was that the meteor would have an effect far worse than that of the image above. The entire planet would desintegrate into a massive cloud of plasma, which would destroy most of the moon as well, sweep away most of Mars and Venus and have a sizeable effect on the Sun.