What happened

In what isn't exactly a common occurrence, Peloton Interactive (PTON -2.48%) outperformed the broader stock market on Friday. Shares of the beleaguered company fell by 1.6% on the day, but that was more than good enough to beat the S&P 500 index's 2.8% slide. Investors were cheered (well, relatively speaking) by a new pronouncement from its CEO. 

So what

After market hours Thursday, Peloton published a statement from its recently hired CEO, Barry McCarthy. In the document, McCarthy announced the culmination of the company's "transformation journey" (i.e. restructuring program), and his commitment to improving its operations and financial performance.

That journey is apparently at an end for the exercise equipment maker and video streamer, because the CEO said that with a roughly 500-employee workforce reduction, it has reached the final phase of the initiative.

There has been speculation that McCarthy is in his position chiefly to try to divest Peloton to an outside investor or syndicate. He quashed such rumors in the document, saying bluntly, "I joined Peloton for the comeback story, not to sell the business."

He also said that the company was now on the way up, stating that, "Today the business is fundamentally more sound than ever and on the right path, so to be clear, there is no timeclock nipping at our heels."

Now what

While investors took these assertions to heart, the stock's slim margin of outperformance today indicates at least some skepticism. McCarthy will have to stick around for the long haul, and the company must show notable improvements, in order for investors to believe more fervently in its future.